Forum Post: the banks are on the verge of colapse
Posted 13 years ago on Oct. 19, 2011, 9:27 a.m. EST by monahan
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my ass! have you not seen the quarterly earning reports?
they should have been broken up long ago. Too big to fail is justification for dissolution. Too big to fail just means they have too much power to begin with.
Apparently, those who do not believe that many big banks are insolvent are oblivious to what's happening in Europe.
It's true
YOU SHOULD OCCUPY CAPITAL HILL, NOT WALL STREET!!!!!!!!!!!!!!!!!
YOUR TAX DOLLAR ALL WENT TO FRIVOLOUS LAWYERS AND POLITICIANS AS A DIRECT RESULT OF OBAMA'S POLICY, NOT WALL STREET!!!!!!
READ THIS
Top Income in U.S. is...Gasp!...Wash. D.C. Area
http://www.bloomberg.com/news/2011-10-19/beltway-earnings-make-u-s-capital-richer-than-silicon-valley.html
Federal employees whose compensation averages more than $126,000 and the nation’s greatest concentration of lawyers helped Washington edge out San Jose as the wealthiest U.S. metropolitan area, government data show.
The U.S. capital has swapped top spots with Silicon Valley, according to recent Census Bureau figures, with the typical household in the Washington metro area earning $84,523 last year. The national median income for 2010 was $50,046.
The figures demonstrate how the nation’s political and financial classes are prospering as the economy struggles with unemployment above 9 percent and thousands of Americans protest in the streets against income disparity, said Kevin Zeese, director of Prosperity Agenda, a Baltimore-based advocacy group trying to narrow the divide between rich and poor.
“There’s a gap that’s isolating Washington from the reality of the rest of the country,” Zeese said. “They just get more and more out of touch.”
Total compensation for federal workers, including health care and other benefits, last year averaged $126,369, compared with $122,697 in 2009, according to Bloomberg News calculations of Commerce Department data. There were 170,467 federal employees in the District of Columbia as of June. The Washington area includes the District of Columbia, parts of Northern Virginia, eastern Maryland and eastern West Virginia.
Embracing K Street In recent years Washington has attracted more lobbyists and firms with an interest in the health-care overhaul and financial regulations signed into law by President Barack Obama, according to local business leaders.
“Wall Street has moved to K Street,” said Barbara Lang, president and chief executive officer of the DC Chamber of Commerce, referring to the Washington street that’s home to prominent lobbying firms. “Those two industries clearly have grown in our city.”
Still, household income fell even in Washington by 0.8 percent last year from $85,168. In the San Jose area, home to Cupertino-based Apple Inc. (AAPL) and Cisco Systems Inc. (CSCO) in San Jose, income dropped to $83,944 from $84,483 in 2009.
Median income in both metro areas has been falling since 2008, when it reached a record in each place. The 4.7 percent drop in Silicon Valley during that period was three times larger than the Washington region’s 1.5 percent fall.
‘Shallower Recession’ The flow of federal dollars in and around the nation’s capital helped the region weather the economic slump better than most areas and is contributing to its recovery. The unemployment rate in the Washington metro area in August was 6.1 percent, compared with 10 percent in San Jose, according to Labor Department figures. Nationally, joblessness was 9.1 percent in September for a third straight month.
“The region did experience a shorter, shallower recession than San Jose,” said Sara Kline, a Washington analyst at Moody’s Analytics Inc. in West Chester, Pennsylvania. “The federal government stepped in to take efforts to dampen the recession. It was focused to some extent in the D.C. area as well, given the presence of federal workers there and contractors. That insulated it from more of a downturn.”
Federal government spending for programs excluding Social Security and Medicare in fiscal year 2011, which ended on Sept. 30, rose to $2.38 trillion from $2.3 trillion the previous year.
Lawyer Capital Last year Washington also had the most lawyers per capita in the U.S. compared with the 50 states, with one for every 12 city residents, according to figures from the American Bar Association and the Census Bureau. In New York State the figure was one out of every 123 residents, while in California the ratio was one in 243.
Associate attorneys in the Washington area who have worked between one and eight years had a median salary of $186,250, compared with the national median for their peers of $123,521, according to a survey by the Washington-based National Association for Law Placement.
I don't know if that's supposed to piss me off. I just think that we (the majority) should be able to secure a measly 50k income a year as living expense. Why not?
Agreed without the unions
Faux Nooz?
Yeppers
Banks have "been on the verge of collapse" several times. Often, this is a rumor started by the bankers and it happened recently. The news reported that banks would soon go bankrupt, people fearing for their hard-earned moneys went and withdrew their money, banks got to show Washington a crisis, and then Washington handed them billions in bailout money. They are not on the verge of collapse, they are on the take.
Globally banks are absolutely on the verge of collapse; they aren't very responsible in their business practices when fraud is rampant and they know they'll be bailed out anyhow
http://www.moneyandmarkets.com/7-major-advance-warnings-47579
True so are your unions
They are not my unions lol. I am not a member of a union and the company I work for goes through great lengths to inform us of the dangers of unions. Do I think Americans should have a right to labor unions? Absolutely. However, these unions need to be just as regulated as our governments, banks, and businesses.
unions are bullies, dont need them, dont want them, they have outlived their purpose and morphed into bullies
So why are there hats in the park the supplies are in a union building and 300k in a union bank
Yep. The boss man said its going down today. Good thing I got my bonus check yesterday.
I'm not for them but I'm not certain this is a joke
http://theeconomiccollapseblog.com/archives/the-top-100-statistics-about-the-collapse-of-the-economy-that-every-american-voter-should-know