Banks say We don't need no stinking regulations
Here's why! Congress! http://www.kitco.com/commentaries/2015-06-22/If-You-Have-Money-in-a-US-Bank-Account-Be-Aware.html
A bail-in takes place before a bankruptcy under current regulations, regulators would have the power to impose losses on bank depositors while leaving other creditors of similar stature, such as derivatives counter-parties untouched. If your bank goes bust then your deposits/savings will be taken from you and turned into shares of the bank. You have no say in the matter because in legal terms, as a bank depositor, you are just an unsecured creditor of the bank.
2012 IMF Notes before 2014 G20 Bank Bail-In Laws signed by USA & G20 Nations
https://americaswatchtower.com/2018/05/23/the-house-passes-bank-reform-bill/
The measure will exempt dozens of regional banks from tighter regulation by raising the threshold for closer Fed oversight from $50 billion to $250 billion in assets. That frees several major regional banks, including M&T, Citizens, SunTrust, BB&T, Fifth Third and BMO Financial Corp., from some of Dodd-Frank?s strictest requirements.
https://seekingalpha.com/article/4179408-bartlett-naylor-banks-becoming-untouchable
The President signed S2155 last week. This bill has 40 or so provisions in it. The most troubling one reduces what's known as enhanced supervision for a class of banks that are between $50 billion and $250 billion in assets.
A bail-in takes place before a bankruptcy under current regulations, regulators would have the power to impose losses on bank depositors while leaving other creditors of similar stature, such as derivatives counter-parties untouched. If your bank goes bust then your deposits/savings will be taken from you and turned into shares of the bank. You have no say in the matter because in legal terms, as a bank depositor, you are just an unsecured creditor of the bank.
2012 IMF Notes before 2014 G20 Bank Bail-In Laws signed by USA & G20 Nations
https://americaswatchtower.com/2018/05/23/the-house-passes-bank-reform-bill/
The measure will exempt dozens of regional banks from tighter regulation by raising the threshold for closer Fed oversight from $50 billion to $250 billion in assets. That frees several major regional banks, including M&T, Citizens, SunTrust, BB&T, Fifth Third and BMO Financial Corp., from some of Dodd-Frank?s strictest requirements.
https://seekingalpha.com/article/4179408-bartlett-naylor-banks-becoming-untouchable
The President signed S2155 last week. This bill has 40 or so provisions in it. The most troubling one reduces what's known as enhanced supervision for a class of banks that are between $50 billion and $250 billion in assets.
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i have tried to find out if your money deposited into a credit union is also counted as an unsecured loan as it is with a regular bank ??? 0 -
Banks/banking is one of the most dishonest businesses in our country. My BIL is a career banker and I wouldn't trust him any more than any other common crook.
I experienced a "bank re-alignment" in which most of the over extended customers were given a big write off while those of us who were conservative and working hard to make payments funded the bailout of the others. I see several of those bail-outs are quite successful farmers now(after getting hundreds of thousands in loans forgiven).0 -
If I owned a bank I'd say WHO NEEDS REGULATIONS. 0 -
Compliance costs and assets allocation demands emanating from Dodd/Frank have put the screws to local and regional banks in ways that those who wrote and voted for the legislation knew would occur.
It was presented as way to prevent the conditions that created the failure of numerous too big to fail institutions in 2008/2009, but was actually written so that it ensconced and enlarges these institutions at the expense of local and regional banks.
President Trump has done the correct thing here. Removing the restriction will allow George Bailey to withstand the onslaught of the Potter's power and provide the banking services most needed once one gets 100 miles or so from Wall and Broad.0 -
quote:Originally posted by Don McManus
Compliance costs and assets allocation demands emanating from Dodd/Frank have put the screws to local and regional banks in ways that those who wrote and voted for the legislation knew would occur.
It was presented as way to prevent the conditions that created the failure of numerous too big to fail institutions in 2008/2009, but was actually written so that it ensconced and enlarges these institutions at the expense of local and regional banks.
President Trump has done the correct thing here. Removing the restriction will allow George Bailey to withstand the onslaught of the Potter's power and provide the banking services most needed once one gets 100 miles or so from Wall and Broad.
More B.S. from you & Congress.The federal reserve is just lobbying Congress to water down the stress test so it can Fund more Debt on the US taxpayers!
In my last post about banks, we see them using worthless municipal bonds nobody wants to buy to bolster their quick cash gimmicks under There new B.S, stress test measures!
The banking system is like Swiss Cheese with holes all in it with default credit swaps, derivatives and now lower the standards across the board on legislation to keep them from having another Crash like in 2008!
Which only does the opposite!
serf0 -
quote:Originally posted by serf
quote:Originally posted by Don McManus
Compliance costs and assets allocation demands emanating from Dodd/Frank have put the screws to local and regional banks in ways that those who wrote and voted for the legislation knew would occur.
It was presented as way to prevent the conditions that created the failure of numerous too big to fail institutions in 2008/2009, but was actually written so that it ensconced and enlarges these institutions at the expense of local and regional banks.
President Trump has done the correct thing here. Removing the restriction will allow George Bailey to withstand the onslaught of the Potter's power and provide the banking services most needed once one gets 100 miles or so from Wall and Broad.
More B.S. from you & Congress.The federal reserve is just lobbying Congress to water down the stress test so it can Fund more Debt on the US taxpayers!
In my last post about banks, we see them using worthless municipal bonds nobody wants to buy to bolster their quick cash gimmicks under There new B.S, stress test measures!
The banking system is like Swiss Cheese with holes all in it with default credit swaps, derivatives and now lower the standards across the board on legislation to keep them from having another Crash like in 2008!
Which only does the opposite!
serf
More often than not less regulation is best. What is missing is personal responsibility and aggressive prosecution of individuals.0 -
"What is missing is personal responsibility "
BIL told me years ago that optimizing bank income is the primary objective of bank managers. Many consider that their ONLY RESPONSIBILITY. Integrity and honestly are secondary.0
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