Lake Erie Conservative

thoughtful discussion(s) about issue(s)

Posts Tagged ‘bank’

… Mike Goodwin is Right [#shakedown][#scam]…

Posted by paulfromwloh on Saturday,April 23rd,2016

.. and Goldman Sachs & Co is not the only victim ..

.. yes , the banks [incl. the investment banks] were participants in the mortgage banking business . But the government gave them little choice ..

.. [h/t — NYPost.com]..
.. [link] to the blog column ..

.. First , the requirements of various laws over the last 30 years required the banks to participate in making mortgage loans to low – income communities . Yes , those knuckleheads should not be ” red -lining ” [avoiding making loans deliberately in those communities] . But those banks should not be forced to make loans to people to whom they have no business in those mortgages ..

.. second , the banks did not make the mortgage -backed securities [MBS] into what is known as the secondary market . The government – held corps did that [i.e. , Ginnie Mae and Fannie Mae] . The banks had little choice . in order to get their money back to use in other ways , Ginnie Mae and Fannie Mae made them participate in those low – income mortgages in order to buy theirs .

.. Also , they did not have to have any capital backing them as investments . When these stinkers went down , then the banks were left holding the bag .That is where the banking crisis came from : leftist politics …

Advertisements

Posted in personal opinion | Tagged: , , , , , , , , , | Leave a Comment »

… Financial instability in the Banks is Going to Drive This [#Greece][#financial crisis]…

Posted by paulfromwloh on Friday,January 1st,2016

.. it is the instability of the financial system , and that of the banks , which is going to drive this financial crisis …

.. why ? the outflows from the banks . The banks cannot sustain this for very long . With that comes pressure on the Greek Government from ” behind its lines …”

.. [h/t — Reuters.com]..
.. [link] to the blog news post ..

.. the Euro carries a deep well of popular support . It is a great deal more than the Greek drachma ever has had . So , it is in the Greek Government ‘ s interest to eventually make a deal …

— [update] — that it did .. the crisis was eventually settled after a  couple of weeks , but at a high cost .. several major Greek banks collapsed as a result of this brawl … also , Syriza [Greece ‘  s  current governing majority party] may well have won a majority again at an  election , but they  have the task  now of reviving  the economy ..

.. the business community will not be happy with radical leftists at the controls . They will be the ones picked on by the government for tax revenue .. Well , the business will not  be too  cooperative with investment unless Syriza agrees to play ball on spending ..  the EU and the ECB should be of help …

Posted in personal opinion | Tagged: , , , , , , , , , , , , , , , | Leave a Comment »

… Greece is Hanging on the Precipice [#financial disaster]…

Posted by paulfromwloh on Tuesday,June 30th,2015

.. Greece could soon be on its own , without the help of the E.U. …

.. I think that the E.U. has reached the end of the line with Greece . They have negotiated and manuveured with the Tsipras Government , but to no avail . Now the Greeks have set forth a July 5th referendum on the reforms that the E.U. wants Greece to adopt . So , what happens now …

.. [h/t — Newsmax.com..]
.. [link] to the blog post …

.. at the least , Greece will be in default to the I.M.F. . This is a situation that will be unprecedented in international finance . It is a very good question about what the I.M.F. is going to do about it …

Posted in personal opinion | Tagged: , , , , , , , , | Leave a Comment »

… it is apples and oranges …

Posted by paulfromwloh on Friday,July 13th,2012

… I have dealt with people s taxes , including my own , and the difference is in the pudding …

… or , in this case , in the fruit …

… apples (earned income) is indeed taxed progressively , and fairly . too progressively, if you ask me …

… as your nest egg builds , your income from interest (still earned income), and dividends (ditto) come out , but you build capital assets (investments, ergo oranges) you start to get capital gains [hopefully]…

… the difference is that with earned income , you do get it , generally , but with capital assets , you are not guaranteed to get your money back . you have put your money at risk …

… you do it in a bank … in bonds , stocks … commodities…other financials …

… get the idea …

Posted in taxation | Tagged: , , , , , , , , , , , | Leave a Comment »