Comments on: 103 U.S. Banks Have Collapsed So Far In 2010 – Do You Know If Your Bank Will Survive?

By: Taylor White, PHD

Taylor White, PHD — Wed, 11 Aug 2010 22:49:11 +0000

You guys should take your cash – and yourselves – out of the States and move someplace else…Panama anyone?

By: rickyd01

rickyd01 — Sun, 01 Aug 2010 17:27:18 +0000

What happened to the law that governed monopolies? This is so corrupt it is actually sad that our politicians and business leaders have become low life greedy scum. Harvard needs to restructure their school and teach honesty, humility instead of greed and self-ism.

By: Doug Wilson

Doug Wilson — Fri, 30 Jul 2010 23:19:04 +0000

I wanted to add this link to the discussion. For some time I’ve been saying, to everyone I can, if we want to stop the plan we have to stop participating in it. The plan is using our labor, in the form of federal reserve currency (what we now call money). So, we have to extract that money from their system.

This can be accomplished by boycotting the banks owned by this group of international financiers. I’ve made a “Boycott The Banks” web page and blog page. I’ve created a form so people could join up and be seen taking action. What I need is someone who is more experienced with php and databases than I am.

The page is here ( http://www.dgswilson.com/wpsite/join-the-boycott/ ). You can go there and comment, add ideas and give the link to your php coder friends. As soon as I can get it so peoples info is secure I can go ahead and open it up to the public.

By: Pecos Bill

Pecos Bill — Wed, 28 Jul 2010 14:58:28 +0000

And that’s why I’m glad my money and soon even my mortgage are all in a Credit Union.

By: Elocutionist

Elocutionist — Wed, 28 Jul 2010 13:55:44 +0000

What we really need is an end to fractional reserve banking. While the near-term pain would be excrutiating, it would be the long-term medicine that would cure the ills associated with a non-producing, debt-based economy.

By: Dang

Dang — Wed, 28 Jul 2010 00:40:27 +0000

Banks dont loan anymore, they dont pay interest to the american people. All there good for is just cashing your paycheck. Banks now days make loans mostly to buy treasuries. American debt that nobody else would buy.

By: Joe in JT

Joe in JT — Tue, 27 Jul 2010 21:21:09 +0000

If banks did replaced cash reserves with Treasuries and then our credit rating was reduced to junk status, can you imagine that crap hitting the fan!
Talk about doomsday, yikes.

By: Stalker

Stalker — Tue, 27 Jul 2010 21:02:42 +0000

If the banks ever stop making unsecured loans to businesses it will be the end of the US economy. The problem we face is not that the banks are making dubious loans to small businesses, it is that they are financing huge projects with millions with no credible plan to be paid back. For far too long a good credit rating was all you needed to get a multimillion dollar loan to build a high rise. We need to get back to banks making loans based on a sound business plan and a credible market for goods.

By: Elise

Elise — Tue, 27 Jul 2010 20:53:26 +0000

This is an interesting article from a prominent Chief Economist who talks about how depression is now hitting us. The chances of a second recession have now gone up from 45% a few months ago to 67% as of now (and it was at 0% at the beginning of the year). It mentions many issues like the banks failing at a faster and faster pace.

A really good read for those interested in the state of things.

http://pdf.cyberpresse.ca/lapresse/dufour/DRDepression.pdf

By: Elocutionist

Elocutionist — Tue, 27 Jul 2010 14:24:16 +0000

@ Goodyear: Banks treat outstanding loans, on their balance sheets, as assets. In a stable or growing economy, that probably makes sense. It would make infinitely more sense if this country didn’t operate on a fractional reserve system, but that’s a whole different story. My point is simply that, if someone owes you money, you’re inclined to look at that as your liability; you’re not counting it as an asset and you’re certainly not ‘banking’ on it as future revenue, particularly in the current fiscal environment. Banks are, however, and that’s a very dangerous policy. In the small town in which I live, I know of one regional bank (which I know to be in trouble on the FDIC list) which loaned totally unsecured money to a businessman for the purchase of another business. It wasn’t big money – about $45,000 – but even a small loan – that appears as yet another asset on the bank’s books – helps bolster its financial profile. That may have been an extraordinary situation but it illustrates my point. It should be pointed out as well that as banks withhold new financing from individuals and businesses, even those with acceptable credit scores, they have taken a particular liking to the purchase of government securities. About a week ago, banks replaced cash reserves with more than $47 billion in Treasuries and the like; their second-highest rate of government paper purchases in the past three years. I guess they think that will help their balance sheets, too.