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JoyfulSilence · 51-55, M
My bank is so big, that if it failed then we'd probably plunge into a recession. Yet if it came to that I presume all similar banks would be in trouble, too, and it all would collapse. Yet the government would likely bail them all out again. They really would have no choice, since the alternative, a great depression, would be worse!
I just hope after the last time they adequately forced the big banks to set aside enough to cover a bank run.
I hear old man Potter is giving 50 cents on the dollar for your shares. Some money is better than no money! 🤪
I just hope after the last time they adequately forced the big banks to set aside enough to cover a bank run.
I hear old man Potter is giving 50 cents on the dollar for your shares. Some money is better than no money! 🤪
Musicman · 61-69, M
@JoyfulSilence A lot of poultry plants across the country were burning down. One after the other. That's what caused the egg shortage and the cost of poultry to skyrocket.
The lithium batteries in the electric cars are worse on the environment then gas. Disposing of them is a serious hazard to the ozone and the earth.
The lithium batteries in the electric cars are worse on the environment then gas. Disposing of them is a serious hazard to the ozone and the earth.
JoyfulSilence · 51-55, M
@Musicman
I guess we will have to do cost benefit analyses.
At least chicken is not to expensive. I had to stop buying steak, though. Outrageously high!
I guess we will have to do cost benefit analyses.
At least chicken is not to expensive. I had to stop buying steak, though. Outrageously high!
Musicman · 61-69, M
@JoyfulSilence Fortunately the poultry plants are starting to come back online. Egg's are coming down along with poultry. The poultry is looking much better now than a year ago.
1490wayb · 56-60, M
it is grossly underfunded and i have ALWAYS done my banking with local credit union
NativePortlander1970 · 51-55
I despise them, if I have $10million in an account, and the bank suddenly fails, I lose $9,750,000, it's a scam.
NativePortlander1970 · 51-55
@Musicman Banks usually fail because of mismanagement of funds and poor investments, along with embezzlement from the larger accounts.
Musicman · 61-69, M
@NativePortlander1970 Back in 2008 the banks failed because of Bill Clinton signing a law forcing banks to make house loans to lower income people who couldn't qualify on their own. Then the sub prime loan scandal finished them off.
NativePortlander1970 · 51-55
@Musicman The banks fsiled because in 1994, then Chicago community organizer Barry Sotero, who likes to call himself Barak Obama, sued CitiBank and Chase over their not approving loans to risky people, he won, which created the subprime loan, aka predatory lending. It took only 14 years for it to implode globally with the housing crisis, Clinton repealing the Glass Steagal act did have some bearing to it as well.