Secretoriginz
Robert ReichBanks should not be casinos.
They should not be gambling with your deposits to pump up their profits, only to be bailed out when they get into trouble.
We need to make banking boring again.
SearingTruth"Nothing for the poor, because they have been negligent and irresponsible.
Everything for the rich, because they have been negligent and irresponsible."
SearingTruth
SJJ722Hold on a minute...Doesn't everyone have a friend thats willing to pay for prestigious private schools, your moms house and $100s of thousands in vacations??
Martha Howell@SteveJepson @SearingTruth @rbreich
EXACTLY! That's why we don't need a student loan payoff. Just get Uncle MoneyBags to cover it.
EXACTLY! That's why we don't need a student loan payoff. Just get Uncle MoneyBags to cover it.
JackieTechnoHippie@rbreich nationalize them
alexferrie@rbreich Richard Murphy put it best. It's time to acknowledge that banks no longer function as private institutions if government will completely cover them for losses of depositors money.
DiscerningHorse@alexferrie @rbreich Well, they’re not completely covered. See Silicone Valley Bank.
@rbreich Make Banking Boring Again. We need to get it put on baseball caps.
duncancmt@rbreich The last time someone tried that, the bank got their license repeatedly denied. Apparently there is such a thing as a bank that is "too safe". Banking is not only a casino, it is a *mandatory* casino. https://www.tnbusa.com/ https://www.bloomberg.com/opinion/articles/2019-03-08/the-fed-versus-the-narrow-bank
JR@rbreich Bankers are the last true Socialists.
Fight Fascism@rbreich
The big problem is really that the Federal Reserve totally failed to anticipate quickly raising rates would undermine the entire USA's banking system.
The banks were lending long at low rates and funding by borrowing short.
Why didn't the Fed anticipate the damage they would do, before they excessively jacked up rates in an overreaction to very modest rates of inflation?
Gary B@rbreich That's what regulation is for. Unfortunately we live in a country that gets bored easily and needs to elect Republicans to congress every 2 to 4 years. How do you fix that? You can't.
@rbreich The Prime movers behind so Titled, 'ENNRON'. Are still being, given 'Cant Blanche, 'To expand their,'Grand Larceny'. Since the time when Robber Barron's we're given total licence to rob any not protected by the 'king's & Church'/ 'Musical Banks'. Like, Umberto Echo Posits, "New Feudalism's been imposed in 'The 'Emperors'New Clothes'of 'Privatisation'/Fascism=Trumpism=ToryBrexitfluent Militant Imperialism.