Did The Fed Quietly Bail Out A Bank just now

[goodgoing]

Quote from sprstpd:

I'll criticize whatever the hell I want to. The Fed has done a terrible job at everything it has touched in the past 15 or so years. It bails out reckless people and screws over prudent people. It has pretty much assured the nuking of people's savings by making the dollar worthless. It has not let the destructive side of capitalism work in order to cleanse our pathetic financial system. The Fed is a complete failure under Greenspan and Bernanke. It's worse than a failure - it's detrimental to society as a whole.

The FED and the ECB and all central banks including all free market systems are faced with an audience with complete ignorance of how the system works, an audience that includes you and those who talk about destructive sides and worthless dollar without suggesting any alternatives at the same time.

If you think a stronger dollar will make your life better you are mistaken. Quality of life presupposes social coherence, which destructive side policies exclude. You may like for some reason to see institutions collapse because in your limited understanding of economics you think they were reckless but this won't happen and you better return to your virtual games for that.

 

[sprstpd]

Quote from goodgoing:

The FED and the ECB and all central banks including all free market systems are faced with an audience with complete ignorance of how the system works, an audience that includes you and those who talk about destructive sides and worthless dollar without suggesting any alternatives at the same time.

I have already suggested an alternative. Let all the banks who were overleveraged burn in hell and die the pathetic death they deserve. It would have cleansed the system like capitalism is designed to do. Painful in the short term, yes, but better in the long run for everyone. But for people who think Greenspan and Bernanke are gods, I guess you just lie down and let them run you over repeatedly. Good luck with that.

 

[macroman]

Quote from goodgoing:

The FED and the ECB and all central banks including all free market systems are faced with an audience with complete ignorance of how the system works, an audience that includes you and those who talk about destructive sides and worthless dollar without suggesting any alternatives at the same time.

If you think a stronger dollar will make your life better you are mistaken. Quality of life presupposes social coherence, which destructive side policies exclude. You may like for some reason to see institutions collapse because in your limited understanding of economics you think they were reckless but this won't happen and you better return to your virtual games for that.

blahblahblah.

they doing it as they are afraid of riots and all that comes with it.

 

[goodgoing]

Quote from sprstpd:

I have already suggested an alternative. Let all the banks who were overleveraged burn in hell and die the pathetic death they deserve.

I'm sorry but you don't know what you're taking about. If you think American banks have high leverage you are totally ignorant of the situation. European banks have average leverage of 30 or above according to other measures. American banks have average leverage of about 12. Are you suggesting the FED initiating a worldwide collapse by letting banks in the US with average leverage 10 burn in hell when the real problem is the banks over the other side?

http://earlywarn.blogspot.com/2011/06/european-bank-leverage.html

You should get updated first and then try to suggest alternatives. Otherwise people will laugh at you.

 

[sprstpd]

Quote from goodgoing:

You should get updated first and then try to suggest alternatives. Otherwise people will laugh at you.

Not talking about Europe. Don't care about Europe. I'm talking about the financial crisis in 2007-2008 and the Fed and our government's response to it.