Crumbling banks strengthen the PM fortress

derryb

good moves in metals as the curtain gets pulled on the bad banks. Look for some desperate response.

gsa1fan

I thought the unemployment data moved metals

derryb

Not a good day to be a TBTF banker

gsa1fan

Hope they fry those rich pompous A*s Hoo's!

pennyholic

About time!!!!!

roadrunner

Isn't this like the US govt suing itself, especially after pouring hundreds of billions to trillions of dollars into these guys?

Or maybe just a little show for the people before the obligatory "wrist slap"?

roadrunner

jmski52

We've only just begun..............

derryb

pay no attention to that man behind the curtain

The Wonderful Wizard of Oz – A Monetary Reform Parable

fivecents

These banks had it coming. I hope they get sued big for making all those toxic loans.

derryb

<< <i>Isn't this like the US govt suing itself, especially after pouring hundreds of billions to trillions of dollars into these guys?

Or maybe just a little show for the people before the obligatory "wrist slap"?

roadrunner >>


Something a bit worriesome about TBTF banks getting sued by a federal agency. I look for this to somehow end up to be in the banks best interests. Maybe a small once and for all penalty to make it go away?

Spooly

Didn't the FED buy a bunch of toxic loans?

Jinx86

Why take out a loan when you can print your own money.

roadrunner

<< <i>Didn't the FED buy a bunch of toxic loans? >>



Yes they did, over $1 TRILL worth. But never fear, those will be dumped into the Fannie and Freddie cesspool that thanks to Tim Geithner, now is uncapped as far as how much
junk which can be shoveled into them. The cesspool window closes in 2012. But until then figure that anything basically worthless held by the big banks, FED, etc. will eventually
be transferred to F&F (ie the people's debt). I'm sure foreign entities are taking advantage of this as well. All these "assets" will of course be marked to model and never sold
for the "profit" they are assumed to have.

roadrunner

Joflax

My thoughts exactly !!

This amounts to Fannie and Freddy suing the banks for derivatives that turned bad after the property market crashed. When Fannie and Freddy should have been responsible for doing due diligence on the derivatives that they were buying.

I am thinking that it is near time to start buying banks.

johnny9434

<< <i>Why take out a loan when you can print your own money. >>



the governments got plenty they can give ya

CaptHenway

At least the big banks' CEOs' children will not lack for bread:

linky

jmski52

Maybe I'm naive, but somebody please tell me how a person deserves a $33.8 million severance package. Gee, where does that kind of money come from?

RedneckHB

<< <i>Isn't this like the US govt suing itself, especially after pouring hundreds of billions to trillions of dollars into these guys?

Or maybe just a little show for the people before the obligatory "wrist slap"?

roadrunner >>




Yup, dogs and ponies.

TomB

This is insane. I can imagine that if somehow these TBTF banks are found liable for billions in lost investments that the US governement (meaning the powerless public ) will step in to infuse these TBTF entities with enough cash and credit to keep the system moving along as before. Of course, all of this will be funded through future obligations heaped upon the powerless public.

pf70collector

Even if the banks pay $30 Billion. What is that? Probably just the cummilative effect of all the bonuses they pay themselves each year. They will just not get their bonuses for one year. Goldman alone gave themselves over $10 Billion in bonuses a few years ago.

MsMorrisine

All those TBTF banks will cry and cry and they'll appeal the verdicts

and the gov't, in these economic conditions, will give them years to pay. If they can even prove their case in the first place.

renman95

<< <i>Isn't this like the US govt suing itself, especially after pouring hundreds of billions to trillions of dollars into these guys?

Or maybe just a little show for the people before the obligatory "wrist slap"?

roadrunner >>



My first thought because the two entities are one in the same.