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Banking Problems Are Now Bigger Than Pre-Lehman

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posted on Sep, 14 2009 @ 09:40 AM
After billions upon billions of dollars pumped into the banking system it turns out we have fixed nothing. The banks have become even bigger and we may even be worse off then before.

Joseph Stiglitz, the Nobel Prize- winning economist, said the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers Holdings Inc.

“In the U.S. and many other countries, the too-big-to-fail banks have become even bigger,” Stiglitz said in an interview today in Paris. “The problems are worse than they were in 2007 before the crisis.”

“We aren’t doing anything significant so far, and the banks are pushing back,” he said. “The leaders of the G-20 will make some small steps forward, given the power of the banks” and “any step forward is a move in the right direction.”

G-20 leaders gather next week in Pittsburgh and will consider ways of improving regulation of financial markets and in particular how to set tighter limits on remuneration for market operators. Under pressure from France and Germany, G-20 finance ministers last week reached a preliminary accord that included proposals to claw-back cash awards and linking compensation more closely to long-term performance.

“It’s an outrage,” especially “in the U.S. where we poured so much money into the banks,” Stiglitz said. “The administration seems very reluctant to do what is necessary. Yes they’ll do something, the question is: Will they do as much as required?”

The government and the MSM keep telling us that everything is getting better and the economy is improving but you have economists telling us that the banking problems are now worse off than before the whole crisis started which was the cause of the crisis in the first place.

It appears that pumping all this money into the banks to "save" the economy has not done what it was intended to do and only allowed the banks to get even bigger.

Will it be just a matter of time before the banksters come back and threaten total economic collapse if they don't get more money from the tax payers? What happens then?

posted on Sep, 14 2009 @ 09:45 AM
"Permit me to issue and control the money of a nation, and I care not who makes its laws!“
- Mayer Amschel Rothschild (1744-1812)

I believe the Rothschild family still maintains a tight tight grip upon its financial institutions.

“Whoever controls the volume of money in any country is absolute master of all industry and commerce.”
- President James A. Garfield, assassinated 1881

The point is, the American government isn't really in control here. The special interest baking elite control far more money than does the government. The power lies with them.

posted on Sep, 14 2009 @ 09:53 AM
I've been saying it for months... we are in deep doo-doo! All of the indicators support it - China and Japan are moving their reserves to Gold, away from the USD. Quantitative Easing is failing and is going to lead to hyper-inflation. The USD is tanking versus a basket of currencies. The FED and Treasury are buying our own debt. Glas-Stegall is STILL repealed. Banks "Too big to fail" are bigger than ever and growing. Large Bank's balance sheets are still a mess. Derivatives valued in the quadrillions are set to tank. Commercial paper is about to become worthless bringing the banks down further. The Federal government's fiscal year is ending this month and could be the impetus for the spring to suddenly unload.

I've said this in a few other threads and I'll repeat it here - stock up and get ready for the worst winter of our discontent!!!

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