Banks...

[kalm]

We still don't really know what the fuck we're doing when it comes to derivatives...

You can’t judge a book by its cover, let alone a report by a bunch of banking regulators.


A perfect example came last week. Watchdogs from 10 European and North American countries released one of the most hard-hitting, and worrying, studies on the financial industry since the 2008 crisis. Their conclusion: Many large banks and their regulators are still unpreparedto deal with troubles in the immense market for derivatives.

But instead of shouting their concerns from the rooftops, the regulators buried them under the boring guise of a “Progress Report on Counterparty Data,” emblazoned with their own drab-looking logos. Yet, the nine-page study is worth reading, especially if you are a shareholder in one of the 19 big banks it covers (all the big firms are represented)....

Regulators are fairly toothless in this respect because they can’t really compel banks to provide derivatives data. And bank executives argue that it is costly, time-consuming and fiendishly complicated to get through the thicket of legal entities, derivatives contracts and counterparties that make up the undergrowth of the financial system. Shareholders should always keep a close eye on bank expenses. But given what is at stake, the cost of avoiding another afternoon like that one on a September Sunday in 2008 seems a price worth paying

http://blogs.wsj.com/moneybeat/2014/01/ ... he-crisis/" onclick="window.open(this.href);return false;

[ASUG8]

Only the players understand derivatives.

[Pwns]

Wait a minute, I thought Dodd-Frank and a little regulation was all we needed to solve the problem and prevent another crisis?

Time to get the proverbial axe out and start hacking these megabanks to pieces.

[AZGrizFan]

...suck.

Go to your neighborhood credit union.

[CAA Flagship]

...suck.

Go to your neighborhood credit union.

I will be visiting mine in 5 minutes. (I owe a payment on my HELOC )

[kalm]

Only the players understand derivatives.

Maybe. But they have also been proven to not understand how their bets jeopardize the entire economy...or they don't give shit....

[ASUG8]

Only the players understand derivatives.

Maybe. But they have also been proven to not understand how their bets jeopardize the entire economy...or they don't give shit....

I'm betting on the latter. It's all about self-preservation for these guys.

[kalm]

Maybe. But they have also been proven to not understand how their bets jeopardize the entire economy...or they don't give shit....

I'm betting on the latter. It's all about self-preservation for these guys.

Which starts with regulatory/governmental capture. Romney was nominated and Chrisite has a chance if he gets out of the current scandals because they too are players. Same for Obama.

[VictorG]

Wait a minute, I thought Dodd-Frank and a little regulation was all we needed to solve the problem and prevent another crisis?

Time to get the proverbial axe out and start hacking these megabanks to pieces.

Basil 3 helps a lot but I myself would like to hack them up as well. If I want a bank, I want a bank. If I want an investment service I want an investment service!

[CAA Flagship]

Wait a minute, I thought Dodd-Frank and a little regulation was all we needed to solve the problem and prevent another crisis?

Time to get the proverbial axe out and start hacking these megabanks to pieces.

Basil 3 helps a lot but I myself would like to hack them up as well. If I want a bank, I want a bank. If I want an investment service I want an investment service!

What do you want if you want a cheeseburger, beer, or hooker?

[Ibanez]

Basil 3 helps a lot but I myself would like to hack them up as well. If I want a bank, I want a bank. If I want an investment service I want an investment service!

What do you want if you want a cheeseburger, beer, or hooker?

Go to Hooters like everyone else.

[VictorG]

What do you want if you want a cheeseburger, beer, or hooker?

My wife to go visit her mother for a week!

[FCS PATRIOTS]

...suck.

Go to your neighborhood credit union.

Yep! Love my credit union!

[CAA Flagship]

What do you want if you want a cheeseburger, beer, or hooker?

My wife to go visit her mother for a week!

[AZGrizFan]

What do you want if you want a cheeseburger, beer, or hooker?

My wife to go visit her mother for a week!

[Ibanez]

My inlaws just bought land from the son of a man that didn't believe in banks. He buried all his money on 4.42 acres of land and forgot about it when he went to the nursing home and died. God I hope he used metal tops or included coins in each jar. Happy Hunting!