The Financial Crisis Support Group

I just sort of stumbled onto this support site,,and am suprised that so few people on DS even know about it ,,,There is the four parter on frontline which I think everyone who is in the financial industry or have been affected by it, which is everyone, should watch,,,also the BBC has a two parter I saw called THE DAY THE PARTY ENDED or something like that ,,,and THE CRASH OF THE EURO,,,



All of this appears to be a continuing storyline from 2008 and 2009 that appears to have morphed into other variations since then,,,and has only become scarier ,,the latest winkled seems to be the effort of re-institute THE GLASS-SEGAL ACT... from the 30's which was gutted in '89 which led to the formation of mega-banks..Currently there are only 5 major banks in the US,,,there are of course other regional banks,,, but they are small potatoes for the most part ,,,big bank wannabees that will never be..30 years ago +/- there were ONLY regional banks,,,as I remember it ,,there was Chase in NY,,,Bank of America which was only in California ,,Wells Fargo was not a bank ,,not sure what it was,,,Citibank did not exist ..HBSC
which was of foreign origin I think back then,,,

The way I see it ,,a few years back these banks used and still to this day use investment institutions the same way a john who has a sex addiction uses a brothel,,,and the regulators where the cops that sort of either were not interested or looked elsewhere,,..the housing and crediti problem was the customer who brought sexual diseases into this brothel and infected
nearly everything and everyone,,,and everyone seems to have gone down because of this,,,

The new attempt at regulation and oversight were the medications and condoms that would stop the spread ,,except the folks who need it do not want it or feel that they do not need it ,,that everything is just fine ,,,and they just keep screwing their brains out regardless.

I could go on and on,,,but you get the picture,,,
Posted on 08/02/12, 02:41 am