The Savings and Loan debacle crashed 700 banks. 1,000 executives were convicted. This time? Zip, nada, zero. No fraud going on here.
And on the “other government hand”, they are whining about banks not making Enough loans.
Ah, Mister bank analyst, if your metaphor is correct, the storm wall on the opposite side is about to hit; it's NOT clean-up time!!
You get paid, it is “wired” to bank A ,which “wires” payments to banks B, C, and D. When you use your debit card the bank “wires” virtual money to the store's account.
When you buy stock or put virtual money into your 401K, no actual money changes hands.
People just don't get it. The world is going plastic and you have absolutely NOTHING to show for it.
Some day people will get it. There is no money to cover all of this debt.
It's just some person typing in numbers on a computer somewhere.
“The Federal Deposit Insurance Corporation is bracing for a new wave of bank failures that could cost the agency many billions of dollars and further strain its finances.”
What finances?
There’s no “lockbox”.