Bernanke predicts bank failures »
Posted By engineer 1 year, 8 months ago in Business & FinanceSome small US banks are likely to fail in the months ahead, Ben Bernanke said on Thursday "There will probably be some bank failures," the Fed chairman told the Senate banking committee in his second day of biannual testimony to Congress.
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engineer
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My background is Biomedical engineering with an MBA As you know from all my comments where I almost stand politically. I have loads of ...
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texangelwings1 year, 8 months ago
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That seems to be a rather mild estimate of the future economic conditions! But then, he is not living in the real world, he really can't see the real picture!
Say goodbye to all the little banks that have popped up over the past couple of year, here in Texas! One Credit Union has a lot that is filling up fast with repo's; cars, boats, etc. Real estate isn't the only culprit, for the financial crisis we are looking at in the near future!
Thanks engineer.
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smfmarket1 year, 8 months ago
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Nice Article ;)
http://johan.fridayhosting.com/promote/index-1....
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DanmLiberalsComment removed: Retracted by user6 Replies
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chevydog1 year, 8 months ago
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Normally this would not be anything big. Who cares if the 1st Bank of Podunk goes under?
But the banking system runs so close to the edge (by design) that even a small failure can send a number of bigger banks over it. The best way to prevent this is for all to operate prudently. But that's not going to happen.
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crespi1 year, 8 months ago
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I don't like the idea of a recession enabling some of those with billions (like those malfeasant super-wealthy creepy corporate investor/owners on FoxNews that seriously say they are going to "INCREASE global warming because it's good for business") being able to swoop down and buy up our infrastructure.
Very bad.
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DanmLiberalsComment removed: Retracted by user12 Replies
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nikkibabe1 year, 8 months ago
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Whatever happened to Bush tax cuts? The country is crumbling like dry bread crumbs all over.
Iraq John wants to make the tax cuts to Warren Buffet, Bill Gates, Donald Trump and scores of filthy rich permanent.
Then he says he will run the war in Iraq for next 100 years.
If there is any money left, he will think of what to do with it.
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joeblowe1 year, 8 months ago
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Oops - couldn't read the story without signing up for more spam. No, thanks.
I will note that in a recession, there are ALWAYS going to be problems at banks. And the banks that are the most decent to their customers, unfortunately, are the ones MOST likely to be in serious trouble. One would hope that every bank - large or small - would have sensible lending policies in place that would help to protect their assets. Which means: NO sub-prime loans. Banks who participated in THAT particular mess pretty much ASKED to be hosed.
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lovermanComment removed: Retracted by user
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hamy1 year, 8 months ago
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I am sure that Bush and Cheney will bail out any of their friends who own banks.
Gays can't marry. Fences were built on parts of the border to Mexico. Schools are teaching "Intelligent Design." We can say "Merry Christmas" to whomever we want. Our soldiers are still dying in Iraq.
Who care's if the economy is in the toilet? Bush's important accomplishments continue to live on.
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HMMace1 year, 8 months ago
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How soon will the revolution come?????
Can't wait to start killing politicians...
We must not eait too long, they will have stole all our money by then...
Crooked politicians--are there any other kind???
There is now no difference between American politicians, and mexican po;liticnas...
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