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View Diary: "79% of investors have no trust in the financial system." (154 comments)

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  •  Of course the criminal activity of the banks is (2+ / 0-)
    Recommended by:
    shaharazade, lotlizard

    bad.  But the diarist is saying that the DOWNFALL of these banks would be bad for the economic system.  I think it would be terrific if they all went bankrupt and disappeared.  I think our economy is resilient enough to take it.

    From a moral hazard point of view, the fact that these criminals get away with such crimes with only a slap on the wrist is ethically bad.  But that's nothing new; it's been that way for decades.

    •  Actually, I'm calling for the downfall of (2+ / 0-)
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      Back In Blue, lotlizard

      these banks. And not picking agents of Government from the pool of failed bankers.

      "Downfall" would mean forced to present honest books (including mark-to-market 'assets'), subsequent bankruptcy, followed by takeover and reorganization.

      Finally, on the road to a real recovery.

      The point of the diary was to indicate the signs of can't-possibly-hid-it collapse are here. Without vigorous action immediately, a lot of people are going to experience pain: those already doing it, and many many many more.
      .


      Markos! Not only are the Gates Not Crashed, they've fallen on us. Actual Representatives are what we urgently need, because we have almost none.

      by Jim P on Wed Jan 16, 2013 at 05:35:59 PM PST

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      •  What "vigorus action" are you suggesting? n/t (0+ / 0-)

        The priest said, "Today's sermon is called 'Liars', but first I have a question. How many of you have read Chapter 66 in Matthew?" Nearly every hand went up. "You're just the group I need to speak to," the priest said. "There's no such chapter."

        by Back In Blue on Wed Jan 16, 2013 at 06:20:27 PM PST

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        •  Start with purging the Wall Street (1+ / 0-)
          Recommended by:
          Back In Blue

          insiders from Treasury and from any advisory positions, personal or official, and then put in somebody who predicted the last crisis and sees the next on the horizon. Say a Stiglitz. Then proceed according to their lights.


          Markos! Not only are the Gates Not Crashed, they've fallen on us. Actual Representatives are what we urgently need, because we have almost none.

          by Jim P on Thu Jan 17, 2013 at 10:13:19 AM PST

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          •  Sounds good to me. n/t (1+ / 0-)
            Recommended by:
            Jim P

            The priest said, "Today's sermon is called 'Liars', but first I have a question. How many of you have read Chapter 66 in Matthew?" Nearly every hand went up. "You're just the group I need to speak to," the priest said. "There's no such chapter."

            by Back In Blue on Thu Jan 17, 2013 at 03:11:21 PM PST

            [ Parent ]

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