Shades Of 2008 - Banks Getting Trashed

C

Cdntrader

BAC MS GS the list keeps going.

what is driving this downdraft and will it end like 2009? TARP 2.0 for Europe?

Reasons? So far we have:

1)Following European banks on their exposure to PIGS debt.

2)Exposure to domestic real estate loans via weak housing #'s.

3) Continued talk of recession in USA implying weakened revenue streams.

4) Self fullfilling fear driven downside momentum.

5) Anticipation of future capital raising.

6) Proxy selling for Euro banks post short sale ban.

7) Negative regulatory environment.

8) Higher capital requirements.

Anything else?
 
Banks generally don't do well in a recession. Until the U.S. reverses course on military spending and tax policy and begins to regain a middle class the country will wallow in recession without an end in sight. A recession can be masked for a very long time with sufficient borrowing at the federal level, but will end badly if it goes on too long. The goal of any borrowing now should be to regain a strong middle class, and of course jobs are part of that picture. Corporate taxes should be reduced to zero for any corporations that expand there workforce in the U.S. and shrink their non-citizen workforce abroad by a corresponding or greater amount, and that also have reasonable profit sharing plans in place. The latter has to include reasonable limits on retained cash.
 
Quote from piezoe:

Corporate taxes should be reduced to zero for any corporations that expand there workforce in the U.S. and shrink their non-citizen workforce abroad by a corresponding or greater amount, and that also have reasonable profit sharing plans in place. The latter has to include reasonable limits on retained cash.
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wel piezoe, I may be a little off topic, but can anybody explain to me why corporations should ever be taxed at all?

I don't get it.

Why should the corporation I own be taxed?

Tax me on my dividend, no problem.

Tax me if I sell at a profit, no problem.

Why tax corporations?

Am I missing something?
 
Quote from oldtime:

wel piezoe, I may be a little off topic, but can anybody explain to me why corporations should ever be taxed at all?

I don't get it.

Why should the corporation I own be taxed?

Tax me on my dividend, no problem.

Tax me if I sell at a profit, no problem.

Why tax corporations?

Am I missing something?
More...

Amen! This of course goes to one's philosophy. And on this topic, our philosophies are in total and complete alignment.

However, here is an opportunity to use the present ridiculous taxing of corporations, as an incentive to repatriate jobs. That is to say if there are no corporation taxes, then there doesn't seem to be a way to use a zero tax rate as an incentive to repatriate. So I would think for practical reasons, inconsistent with my philosophy as it is, that we ought to, for the time being, keep taxing U.S. owned and controlled corporations that have replaced domestic jobs with foreign nationals working abroad, but revise the tax code so as to use a zero rate as an incentive to repatriate jobs.

As long as we are all suffering this insufferable U.S. tax code, I want to see it used to give U.S. corporations an incentive to repatriate jobs. The goal should be a zero tax rate for all corporations operating in the U.S. whether U.S. or foreign owned.
 
Quote from piezoe:

Amen! This of course goes to one's philosophy. And on this topic, our philosophies are in total and complete alignment.

However, here is an opportunity to use the present ridiculous taxing of corporations, as an incentive to repatriate jobs. That is to say if there are no corporation taxes, then there doesn't seem to be a way to use a zero tax rate as an incentive to repatriate. So I would think for practical reasons, inconsistent with my philosophy as it is, that we ought to, for the time being, keep taxing U.S. owned and controlled corporations that have replaced domestic jobs with foreign nationals working abroad, but revise the tax code so as to use a zero rate as an incentive to repatriate jobs.

As long as we are all suffering this insufferable U.S. tax code, I want to see it used to give U.S. corporations an incentive to repatriate jobs. The goal should be a zero tax rate for all corporations operating in the U.S. whether U.S. or foreign owned.
More...
yeah, except I'm in the business of making money, not an employment agency.

If I can make more money outside USA then that's where I will go. It's a free market, anybody can buy into it.

I'm pro unemployment. Too many people have jobs and not enough actually work for a living.

I had a job once, and it is horrible. I wouldn't wish that on anyone.
 
Quote from oldtime:

I had a job once, and it is horrible. I wouldn't wish that on anyone.
More...

Amen...although I'm probably unemployable at this point anyways besides maybe flipping a burger. I'm pretty good at that.
 
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