grandma
Well-known member
What was the former administration doing for the last 8 years?QUOTE]
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Or you can now use TapaTalk again!2009 Bank Failures
- Thread starter Show-me
- Start date
James48843
Well-known member
FDIC's Bair: Bank Failures Will Peak In 2010
NEW YORK (Dow Jones)--Federal Deposit Insurance Corp. Chairman Sheila Bair said Tuesday that more banks are set to fail.
"We do obviously have a lot more banks that will close this year and next," Bair said, adding the failures "will peak next year and then subside."
Bair was responding to audience questions at an event held in New York by the Institute of International Bankers. Bank regulators have shuttered more than 100 banks this year as the financial crisis has exacted a heavy toll on the banking sector, a sharp rise from what's been seen over recent years.
The official also said she was disappointed about the state of bank credit right now, saying "none of the large institutions are doing a good job of lending right now." She added, "it used to be you take deposits and lent out money, and we'd like to see more of that."
More: http://online.wsj.com/article/BT-CO-20091110-715147.htmlAnd all of these are a drop in the bucket compared to what the Wall Street banks received. Citigroup alone received 29 billion in guarantees.
What, pray tell, did the Republican Revolution bring us, except financial ruin? That's why we can't believe the incredible resistance to the current changes. They had their chance for a looooong time, and basically wrecked our country with 2 foreign wars, burgeoning debt and failing infrastructure.
grandma
Well-known member
.....What, pray tell, did the Republican Revolution bring us, changes....
.....They had their chance .....QUOTE]
................
KevinD
Well-known member
Show-me
Well-known member
Change for the sake of change does not make it the right change. Please! I have all the answers just ask me and accept it.
James48843
Well-known member
Why only three bank failures this week, instead of the normal five?
Answer: Wednesday was a holiday. Shortened work week.
Next week we'll have five again. You watch.
Only 400 more to go.......Fool me once, shame on you. Fool me twice, shame on me. The Republican Revolution has brought us to the brink of disaster, thank you. All we have now is the largest military buildup in the world, but with absolutely nothing to show for it.
While we've been doing this, the Chinese and others have built up the largest economic machine in the world. They have forged powerful economic ties with the rest of the world while we simply rattle our sabres.
In the end, they'll own a larger empire. They also have fewer people below the poverty level than we do. Yeah, I forgot....they're a communist country.
Change for the sake of change does not make it the right change. Please! I have all the answers just ask me and accept it.
I can normally let your comments go as you opine and pontificate about everything. But this one really takes the cake. I'll call it the "Phil Quote of the Day." Though, to be honest, you've had quite a competition today with your usual assortment of tired and useless political rhetoric. It was tough choosing just one.
To suggest that the Chinese have fewer people below the poverty line is so far removed from reality it begs the question: What planet are you living on? The absurdity is astonishing, even coming from you.
James48843
Well-known member
Poverty in China has fallen dramatically, from 65% of the population living on less than a dollar a day in 1984, to less than 10% of the population in 2004. According to the World Bank, [FONT=Arial, Helvetica, sans-serif]more than half a billion people were lifted out of poverty[/FONT]. It continues to improve in China, as they are the beneficiaries of their world trade, including selling you everything in your local Wal-mart store.
http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/EASTASIAPACIFICEXT/CHINAEXTN/0,,contentMDK:22131856~pagePK:141137~piPK:141127~theSitePK:318950,00.html
Facts about poverty in China:
http://blogs.wsj.com/chinarealtime/...verty-in-china-challenge-conventional-wisdom/
Yes, America still leads in per-capita income. But the trend it ominous here.This info shows the Chinese unemployment rate at 4%, as opposed to ours of over 10%. Their source book was the CIA factbook.
http://www.indexmundi.com/china/unemployment_rate.html
I have to qualify my answer. They have a smaller percentage of people below the poverty level in China, but they could have more people below their line. Nevertheless, with a 4% unemployment rate, and a shrinking population growth, their economic model seems to be on track.
Unlike ours. So, do we now think communism has been a tremendous failure? What planet do I live on? Well, I live in the decaying and decrepit US, a country that seems to be heading the way of the former Soviet Union in so many ways. Make no mistakes, the Chinese have made all the right moves, and when you go overseas, you notice how quickly they move into spaces that we've abandoned already.
Where we'd send a carrier battlegroup, they'd just send a small delegation. They're a lot smarter than we are. 10 plane tickets and a little cash get them a lot further.
James48843
Well-known member
View attachment 7251
See the report on China's remarkable progress in it's war on poverty here:
http://siteresources.worldbank.org/...06/China_PA_Report_Summary_March_2009_eng.pdf
nnuut
Moderator | TSP Legend
Frixxxx
Moderator
So, you're saying, "If you build it, they might not come?"
I liked the cop at the end, he just kinda left the intersection to itself!I watched the video. Like I said, the Chinese are making all the right moves. Investment in their infrastructure like roads and the national railroad will also improve the quality of life for most of the Chinese over time, and improve their economy. While it points out that there's a lot of empty spaces in the buildings, at least they don't have the same meltdown that we're having now.
I have an idea. Maybe WE should be doing the same.
James48843
Well-known member
Amazing- they have the city built already.
Wonder what the place will be like 20 years from now. I bet it won't be empty then.
Boghie
Well-known member
Phil,
Who was the Director and Senior Counselor (and for a short time, Chairman) of Citigroup when it blew up and ambled to the trough???
Can't seem to remember.
Some dude named Robert Rubin.
I
Just
Can't
Place
The
Name
Anyway, more than half of the TARP funds have been disbursed during the Presidency of President Obama. President Obama probably should cancel it, but he hasn't. Maybe he is still reviewing the options.
nnuut
Moderator | TSP Legend
Was it this Guy? Winfried F. W. Bischoff
Mr. Bischoff has a lot to prove. His brief tenure as the chairman of Citigroup, which he joined in 2000, came to a humiliating end in January, when he was replaced by Richard D. Parsons.
http://www.nytimes.com/2009/08/13/business/global/13bischoff.htmlConsidering the crisis occurred largely as a result of financial deregulation, I take it all with a grain of salt. Yep, Robert Rubin probably deserves some of the blame, and the Clinton administration, but these large outlays that have happened began during the Bush administration. The Republican Revolution had over 14 years to solve the problem. I guess this just shows us how truly revolutionary they were.:laugh:
Because, we're back in the same place as when we started. Congress could have fixed the problem during those long years.
Phil,
Who was the Director and Senior Counselor (and for a short time, Chairman) of Citigroup when it blew up and ambled to the trough???
Can't seem to remember.
Some dude named Robert Rubin.
I
Just
Can't
Place
The
Name
Anyway, more than half of the TARP funds have been disbursed during the Presidency of President Obama. President Obama probably should cancel it, but he hasn't. Maybe he is still reviewing the options.
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