A new report from the office of Christy Romero, Acting Special Inspector General for the TARP program, shows that banks got out of critical regulations early to increase their profits and bonuses. Is another financial collapse inevitable? Cenk Uygur of The Young Turks explains. slatest.slate.com The Young Turks on Current TV: current.com The Largest Online New Show in the World. Google+: www.gplus.to Facebook: www.facebook.com Twitter: twitter.com Support TYT for FREE: bit.ly
Tags: Collapse, Financial, Inevitable, Inspectors, Second, TARP
February 11th, 2012 at 1:16 am
@treysparker It’s worse than you think. A friend of mine at treasury said that rate of bank debt to income is breaking the FDIC fast, which means if there banks fail, the feds might not be able to guarantee account loss re-embersements through the FDIC insurance fund.
February 11th, 2012 at 1:22 am
what do they mean by “stable”?…
February 11th, 2012 at 2:17 am
@orchoose That is the game created by the super banking class that uses central banking.
February 11th, 2012 at 3:11 am
@ShatterNWO You missunderstand it… it was not goverment its was ppl who pay goverment…It was bankers!! Dont blame players blame game…
February 11th, 2012 at 4:00 am
Get all your money off Wall Street now.
February 11th, 2012 at 4:08 am
Tonka Ttucks
February 11th, 2012 at 4:35 am
@MrHav1`inch You got the house…wow aren’t you something? If I was a betting man I would say you’re probably a homophobe racist Teatard who either ‘cant read or watch TV’. 95% of economists agree that we we’re within ‘WEEKS-NOT MONTHS where supermarkets would have…’NO LINE OF CREDIT’ to put ‘MILK ON THE SHELF’. And that Prez Obamas policies and Dems turned 3.6 million job loss [Bush last 12 months] around in 45 days.
Obama care will save close to a trillion w/in 10 years/CBO. Kids will live
February 11th, 2012 at 5:24 am
@BrotherAlpha But the bank isn’t fully private in the first place, it’s shareholders are, but they have gov’t granted monopoly powers. I could see socialized banking working at a small local level like in North Dakota, until the wrong ppl get in charge of the bank.
February 11th, 2012 at 5:36 am
Just got a bunch of MRE’s, bow and arrow’s, cookware, and other handy stuff.
Next on the list, a crap load of canned goods, and a gun or two.
Bring it on.
February 11th, 2012 at 6:10 am
@AllNightDayDream
It wasn’t, but people still have no jobs and the Republicans have the house, so Obama can’t do shit. He fucked up.
February 11th, 2012 at 7:09 am
@StrangeIsMyWorld Taxes are what we are forced to pay to maintain the state.
…and again, it is you who does not understand. The evidence you present of 1/5 of total productivity going to combat poverty, is not evidence of having ending poverty, it is evidence of the opposite. Had your society actually solved it’s poverty problem, There Would Be No Welfare State!
…and if everyone is so educated & healthy, why can they not figure out how to use their salubrity to take care of themselves?
February 11th, 2012 at 7:30 am
@UtubeMyAccountName 20% of GDP is the price you pay to keep your citizenry healthy and educated. Through giving the populace equal access to hospitals and clinics, that are clean and modern. To schools and universities with high standards and are competitive. At little cost. And of course keeping doctors, nurses and teachers well compensated for the job they do. These services do not come cheap. But as Associative Justice Oliver Wendall Holmes said: “Taxes are what we pay for civilized society.”
February 11th, 2012 at 8:14 am
@UtubeMyAccountName I don’t think you understand…Empirical evidence shows that if you spend at least 20% of you GDP on such things as Healthcare and Education to keep them affordable your nation will maintain a balance between those who have and those have not. If you minimize your welfare spending, deregulate the financial sector. You foster a climate of dissatisfaction and in time outright rebellion by the majority whom you have disenfranchised by adopting policies that favour the mega rich.
February 11th, 2012 at 8:18 am
@MrHav1k How was the stimulus a failure?
February 11th, 2012 at 8:39 am
@dangerouslytalented I know! I saw those people getting arrested in Boston the other day. B of A is the worst. I am thinking of closing my bank account. It’s not with B of A, but still. All of these big banks are monstrous. Better to keep all my money in a Credit Union. Humph!
February 11th, 2012 at 9:09 am
@bunchofdaisies Plant Fruit Trees!!
February 11th, 2012 at 10:05 am
@dangerouslytalented hear hear
February 11th, 2012 at 10:28 am
@MrClaydough
Obama had TWO FUCKING YEARS to pass all the legislation he wanted and to regulate the fuck out of everything and all we got was the stimulus and Obamacare….
THE MAN HAS FAILED
February 11th, 2012 at 11:03 am
TERRP!
February 11th, 2012 at 11:05 am
@ShatterNWO North Dakota has a government run bank. It works great.
The problem with the private banks is that they took too much risk trying to make a profit in trades. A socialized bank would not have a profit motive and therefore would be much more stable. Loans and savings should be separate from investment banks.
February 11th, 2012 at 11:53 am
fuck the banks. start saving the old fashioned way, in mason jars buried in the backyard. sure you don’t get paltry interest but at least you know you have your cash, and you’re not helping utter douchebags ruin your country.
February 11th, 2012 at 12:25 pm
@StrangeIsMyWorld You don’t seem to understand your own evidence. Your data does not show that welfare programs help reduce poverty.
If poverty is being reduced, why is so much of GDP being spent to combat it? Poverty is not being reduced, it is being institutionalized. A real reduction in poverty, would see reduction in the welfare state, not institutionalization.
Poverty among the elderly was never 50% before SS. Depression era statistics are anomalous, the entire society was impoverished.
February 11th, 2012 at 1:21 pm
@MrHav1k Right moron….It wasn’t Teatards/Repugs who filibustered all WallSt/Banking Reg’s!
February 11th, 2012 at 1:25 pm
@UtubeMyAccountName No…my statement proves nothing. However empirical evidence proves that taxes and transfers considerably reduce poverty in countries whose welfare states commonly constitute at least a fifth of Gross Domestic Product. An example would be when Social Security was first instituted U.S. in the 30’s the number of Seniors living in poverty was 50%. Today its 10%. Even your hero Ayn Rand found this out when she got old and sick, she too collected Social Security and Medicare.