Comments on: The Next Banking Bomb?
CBS News Investigates: Credit Derivatives Comprise $54.6 Trillion Of Risk Among Few Banks Left Standing
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- Regulation is obviously a good (and absolutely necessary) thing - not a bad thing.
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Posted by SkySoldier75
Yes, America, we need more and bigger government to fix this problem. And our government isn''t big enough, because its a worldwide problem. Hey, I know, let''s just combine all the countries of the world into one big country, and have one big government over them all. Then we''ll have no more wars, no more financial problems...heck...it''ll be heaven on earth!
At least until your new leader let''s you know that he is just like the rest of ''em. Then you''ll realise you created an even bigger problem. Now you realise you gave control of the world to the antichrist! And the only way out is God! But you hate him and his rules more than you hate your new government! Now whatcha gonna do? Burn for eternity in hell? Or give up your selfish greedy sinful lifestyle and face the Truth?
LOL....a fine mess you''ve gotten us into now, stanley... - Reply to this comment
What we ALL need to learn from this mess, both Republicans and Democrats alike, is that deregulation - or a lack of adequate regulation - is extremely dangerous for our entire economy.
The entire financial industry needs to be constantly and intensively monitored by our government, if the best interests of the American taxpayers are to be served.
The real moral of this story is that you simply cannot trust business to "police itself". That will never, ever work -- it just encourages massive abuse, and leaves taxpayers financially responsible for cleaning up the mess when the greedy bail out and take their ill-gotten profits with them, leaving the rest of us holding the bag.
Regulation is obviously a good (and absolutely necessary) thing - not a bad thing.- Reply to this comment
Don''t worry America!
Bush has got his new "Leave No Billionaire Behind" program ready to go.
He''s going to take your tax dollars and give it to the people who caused this mess and eventually it''s going to trickle back down to you.
If, when the trickle finally reaches you, it looks and smells just like urine.........that''s because it is!
Thanks for voting Republican.- Reply to this comment
- This "melt-down" is really caused by GLOBALIZATION, the "outsourcing" of American Jobs to Asian markets for cheap labor.
Posted by bellschotsch
I agree, they pushed down wages while offering cheap easy credit and encouraging people to go out and spend. Who cold have guessed it would end up like this? - Reply to this comment
- The republican party has become a party of christian fundamentalism and rampant jingoism.
Now THAT is scary. - Reply to this comment
- Don''t worry my fellow Americans if the banks fail Bush''s Government will just print more money and everything will be just fine once more...
Worry my friend''s worry. - Reply to this comment
- Apparantly, some of you lunkheads didn''t read the article. Senator Dorgon was talking about the bill passed by both parties in Congress and signed by Clinton in 1999 which repealed the depression era Glass-Stegle act which separated banking, insurance and securites. Dorgon called this bill a time bomb that could result in another depression. THIS WAS IN 1999. Bush wasn''t in office then.
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- %u201CNo one knows where [the credit derivatives] are, whose balance sheets they may threaten, or how much additional risk they pose to financial firms."
Maybe researchers at CERN, Europe''s atom-smashing laboratory, can locate these CDSs along with dark matter and the God particle. Physics are the same nomatter where you are in the world. - Reply to this comment
- Socialism is almost here.
Vote Obama and it will finally arrive.
Scary.
Posted by Yurfulla at
If socialism eliminates the shadow banking industry and the shadow oil markets than I say bring it on. Right now we privatize profits for the rich and socialize their losses. - Reply to this comment
- The Republicans will be responsible for this country going the way of the Roman Empire...
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- The GOP which handed us a flawed Presidential election in 2000 when we couldn''t count all the votes, plus non-existent WMB in Iraq doesn''t care about the world economy. The GOP just wants gasoline prices to fall to $2.00 per gallon at the pump by election day in the U.S. so they won''t suffer a wipeout at the poll. Sterling Greenwood, Aspen.
- Reply to this comment
- Socialism is almost here.
Vote Obama and it will finally arrive.
Scary. - Reply to this comment
