Posts Tagged ‘Bailout’
With newfound bailout money in their wallets, big banks have been rushing to gobble up smaller ones. At the center of these mergers is the Treasury Department, led by Goldman Sachs alums Henry Paulson and Neel Kashkari. While neglecting struggling homeowners they have created major incentives for widespread bank consolidation, which could lead to a host of new problems. And, as members of Congress recently noted, Treasury officials seem to be making the rules up as they go.
Duration : 8 min 42 sec
With newfound bailout money in their wallets, big banks have been rushing to gobble up smaller ones. At the center of these mergers is the Treasury Department, led by Goldman Sachs alums Henry Paulson and Neel Kashkari. While neglecting struggling homeowners they have created major incentives for widespread bank consolidation, which could lead to a host of new problems. And, as members of Congress recently noted, Treasury officials seem to be making the rules up as they go.
Duration : 8 min 42 sec
So this crisis we find ourselves in has been a long time in coming, and some Democrats and Republicans should be held accountable. Those who caused this crisis by cooking fannie’s and freddie’s books should be investigated. Then they should go to jail.
“The root cause of the problems we face can basically be summarized in three words greed, leverage, and fear. Greedy Wall Street people plus greedy mortgage lenders, homeowners, speculators, and even politicians helped spark an unsustainable rise in home prices. This rise was fueled by extremely high leverage (i.e., using lots of borrowed money.) When housing prices started dropping, the domino effect of leverage came back to haunt the system and financial institutions had to take massive write-downs and seek outside capital. Fear took over as the problems kept piling on top of each other and people began to panic. Thats an oversimplification of what has happened, but it describes, at a high level, how we got to where we are now.” quote taken from N.Y., wealth management advisor.
A bailout now has to happen so that Main Street won’t be pejoratively effected by Wall Street’s response to this mess.
The problem with Fannie and Freddie is they privatized the profit, but socialized the risk. So the tax payer as usual, will hold the bag of crap for a problem the government put us into in the first place. And now, they will have even more control of your money than ever before.
When the dotcom bubble burst was there a bailout for Wallstreet? I know this is different, it’s the banking system.
I, SandieBlack, can’t stand the politicking bullcrap. This nursery slime is meant to poke a bit of fun at all, but especially the media who chose to only blame the administration of the last 8 years. Of course they have some blame, but so do a load of other fools.
Cheers to those who warned of this impending doom, like McCain in ‘04.
Duration : 0:1:28
Independent wealth advisor Joe Krier of Krier Wealth Management discusses the traditional September Slump and why 2009 is bucking the trend in this WJXT Channel 4 interview broadcast on September 10, 2009.
Duration : 0:4:30
Vern Hayden, President of Hayden Wealth Management: “The worst thing about a down market like this one is it makes you feel you’ve got about as much chance of making money as a bug on a highway trying to face down the eighteen-wheelers.” Visit www.haydenwealth.com
Duration : 0:5:16
Barclay CEO Bob Diamond is one of the highest paid bankers in the World. Since joining Barclays he has also taken control of the bank’s wealth management (Barclays Wealth) and fund management (Barclays Global Investors) divisions. Subsequent to the 2008 financial crisis, there has been controversy over Diamond’s pay as one of the world’s highest-earning bankers, collecting a package worth up to £27m in 2006, £36m in 2007 (approx. $70m USD), and holding Barclays shares worth £65m.
Duration : 0:2:18
February 17, 2009