What could possibly go wrong?
The US Federal Reserve (that regulates US banks) is about to reduce the capital adequacy requirement for banks (raised in the wake of the 2008 financial crisis).
Of course, nearly 20 years after the global financial crisis, regulators & bankers may say they've learned the lessons of 2008, but what they really mean is they've (wilfully) forgotten them.
Just one more act bringing a crisis nearer (as if attacking Iran wasn't;t enough)!
Yes, even from this distance it looks like that...
@ChrisMayLA6 And the SEC is trying to remove quarterly reporting requirements to hide the current mess too.
Given car loan delinquency is already over 6% I don't imagine it'll look pretty when the US private credit mess explodes.
Oh, how can that be? The current set of stories about private equity and private banking restricting the amount people can withdraw plus what we can know about their leveraging investor money with commercial bank loans suggest they might be a wee bit over leveraged.
A long time ago was easy money for private equity and so on it isn’t anymore
@ChrisMayLA6
Oh, they've learned their lesson.
Crashing the economy to make money worth less causes stock prices to go UP.
Legal restrictions on those people don't exist because they don't know what they are doing. They exist because they know exactly what they are doing.
Ha ha, yes fair enough - that lesson certainly has been learnt (but they may known that before 2008)
@ChrisMayLA6
Maybe. It seems to me that before, the goal was to make the stock prices go up, and crashing the economy was just a side effect. But after 2008, the goal has been to intentionally crash the economy to make stock prices go up.
But maybe that's just me.
Well, there's a analytical approach that would label such practice(s) observed the latter: 'disaster capitalism' so quite possibly the case
@ChrisMayLA6
Name one #bankster who went to jail after 2008.
Name one #bankster CEO who lost his job without a golden parachute.
#Democrats protected them. So did #Republicans.
And now seeds are being sown to do a repeat of #1987 and of #2008
Actually they didn't protect them.
The Great Depression was a severe global economic downturn from 1929 to 1939.
It looks like some people are trying to do a reboot to 2029-2039.
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