beebadeeba |
09-22-2010 03:06 AM |
Quote:
Originally Posted by will76
(Post 17466817)
US govt backs up to 300K in banks per person per account. US banks are not on the verge of bankruptcy.
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No, not since 1.4 trillion dollars of taxpayer's money was showered down on them from a helicopter.
The banking industry in the USA (and many parts of Europe) is currently one big scam. Liabilities hidden "off balance sheet". Credit rating agencies ignoring the facts to keep the AAA ratings to try to prop the system up so they can keep earning payola.
Many US banks ARE on the verge of bankruptcy. Guaranteed by taxpayer funds. 854 last estimate. 119 failures last year. 125 failures YTD. FDIC trying their best to NOT close them down.
They wont loan anyone any money now because they make a better profit using the money the government gave them (at ~0% interest) to continue betting elsewhere.
The system is broken. Flag wavers like you ensure it won't be fixed until AFTER it collapses.
Hurrrrrumph.
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