Comments on: Only One in Five Americans Trust Banks http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks.html Sun, 22 Nov 2009 18:20:39 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: eh http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks.html#comment-21609 eh Wed, 15 Oct 2008 02:21:00 +0000 http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks/#comment-21609 I bet less than half the population can name their representative. They probably give a high rating just to avoid the embarrassment of admitting that. I bet less than half the population can name their representative. They probably give a high rating just to avoid the embarrassment of admitting that.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks.html#comment-21586 Anonymous Tue, 14 Oct 2008 23:55:00 +0000 http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks/#comment-21586 As a humorous aside, regarding consumer confidence<br/>http://www.sinfest.net/archive_page.php?comicID=2959<br/><br/>Tat's been on fire for the past couple months.<br/>(btw I come to this blog every day. You do fantastic work!) As a humorous aside, regarding consumer confidence
http://www.sinfest.net/archive_page.php?comicID=2959

Tat’s been on fire for the past couple months.
(btw I come to this blog every day. You do fantastic work!)

]]> By: Matt Dubuque http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks.html#comment-21572 Matt Dubuque Tue, 14 Oct 2008 22:30:00 +0000 http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks/#comment-21572 Matt Dubuque<br/><br/>We still have a very big problem on our hands for TWO reasons.<br/><br/>1. The interbank market is in a VERY deep chill, bordering on a coma.<br/><br/>2. Even ASSUMING that is ameliorated (perhaps through an Operation Twist of some sort) banks are likely to STILL be exceptionally reluctant to lend to businesses and consumers.<br/><br/>We have TWO very big steps to go.<br/><br/>First banks have to lend to each other.<br/><br/>THEN they need to lend to the rest of us.<br/><br/>Matt Dubuque<br/>mdubuque@yahoo.com Matt Dubuque

We still have a very big problem on our hands for TWO reasons.

1. The interbank market is in a VERY deep chill, bordering on a coma.

2. Even ASSUMING that is ameliorated (perhaps through an Operation Twist of some sort) banks are likely to STILL be exceptionally reluctant to lend to businesses and consumers.

We have TWO very big steps to go.

First banks have to lend to each other.

THEN they need to lend to the rest of us.

Matt Dubuque
mdubuque@yahoo.com

]]> By: doc holiday http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks.html#comment-21565 doc holiday Tue, 14 Oct 2008 21:59:00 +0000 http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks/#comment-21565 I think this will be a social trend to distrust global entities, to a point where people will shun capitalism as a norm and look for smaller, regional entities that are close at hand. This is like an absentee landlord letting things go to hell, or allowing crooked pirate mice to play clever little games with future value by putting the future value of Joe's local money into a distant MBS and then using that for collateral for some derivative bet linked to some other bet made by some retarded mouse 5000 miles away -- who is busy trying to trick other cats...<br/><br/>I think people will be forced to shop at the globalized wal-marts of the world, but in terms of buying shares and trusting the capitalistic framework of share ownership, IMHO, that will change and people will invest local and tell wall street to piss off! If wall street wants to survive they better stay under the radar and stay very clean for the next decade!<br/><br/>Also See: George bailey, in It's A Wonderful Life as an example of acting local and thinking about global vacations. I think this will be a social trend to distrust global entities, to a point where people will shun capitalism as a norm and look for smaller, regional entities that are close at hand. This is like an absentee landlord letting things go to hell, or allowing crooked pirate mice to play clever little games with future value by putting the future value of Joe’s local money into a distant MBS and then using that for collateral for some derivative bet linked to some other bet made by some retarded mouse 5000 miles away — who is busy trying to trick other cats…

I think people will be forced to shop at the globalized wal-marts of the world, but in terms of buying shares and trusting the capitalistic framework of share ownership, IMHO, that will change and people will invest local and tell wall street to piss off! If wall street wants to survive they better stay under the radar and stay very clean for the next decade!

Also See: George bailey, in It’s A Wonderful Life as an example of acting local and thinking about global vacations.

]]> By: locust http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks.html#comment-21563 locust Tue, 14 Oct 2008 21:50:00 +0000 http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks/#comment-21563 Split them up and get rid of too big to fail. Split them up and get rid of too big to fail.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks.html#comment-21558 Anonymous Tue, 14 Oct 2008 21:19:00 +0000 http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks/#comment-21558 Disclosing their level 3 assets would reveal just how shady banks are at fixing the books. They'd make Enron look like amateurs. Disclosing their level 3 assets would reveal just how shady banks are at fixing the books. They’d make Enron look like amateurs.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks.html#comment-21556 Anonymous Tue, 14 Oct 2008 21:06:00 +0000 http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks/#comment-21556 Just wait until they realize that most of the big players are insolvent.<br/><br/>If Hank really wants to restore trust, why doesn't he just make all players display their hands through full disclosure of Level 3 assets? It could be done for free, not $700,000,000,000.<br/><br/>Exactly. Just wait until they realize that most of the big players are insolvent.

If Hank really wants to restore trust, why doesn’t he just make all players display their hands through full disclosure of Level 3 assets? It could be done for free, not $700,000,000,000.

Exactly.

]]> By: mxq http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks.html#comment-21555 mxq Tue, 14 Oct 2008 21:02:00 +0000 http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks/#comment-21555 Anon 4:05- "I'm pretty sure my local credit union isn't levered 40:1 and carrying a lot of CDS squared"<br/><br/>I recall something like $30bn in agency preferreds have been wiped out...this stuff was, unfortunately, pushed on small/local bank and trusts as bulletproof for their capital base. No telling where those holes will pop up, so maybe ask your bank if this applies to them (if they don't file)...30bn spread across the whole US banking system is in reality pretty minute, but nevertheless, its a new risk consumers didn't think existed as of a year ago. Anon 4:05- “I’m pretty sure my local credit union isn’t levered 40:1 and carrying a lot of CDS squared”

I recall something like $30bn in agency preferreds have been wiped out…this stuff was, unfortunately, pushed on small/local bank and trusts as bulletproof for their capital base. No telling where those holes will pop up, so maybe ask your bank if this applies to them (if they don’t file)…30bn spread across the whole US banking system is in reality pretty minute, but nevertheless, its a new risk consumers didn’t think existed as of a year ago.

]]> By: Carlosjii http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks.html#comment-21554 Carlosjii Tue, 14 Oct 2008 21:00:00 +0000 http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks/#comment-21554 we can just add Rapture futures to an appropriations bill we can just add Rapture futures to an appropriations bill

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks.html#comment-21550 Anonymous Tue, 14 Oct 2008 20:05:00 +0000 http://www.nakedcapitalism.com/2008/10/only-one-in-five-americans-trust-banks/#comment-21550 Sarcasm aside, even if you rule out the 55% of Americans who believe in the Rapture (cited sources help), you would still be left with a sizable minority (1/4 to 1/3) of Americans who are weary to outright hostile to Wall Street and the large banks.<br/><br/>I'm sure it make for a good grabbing headline, but I'm not sure how it will translate into anything tangible. Sarcasm aside, even if you rule out the 55% of Americans who believe in the Rapture (cited sources help), you would still be left with a sizable minority (1/4 to 1/3) of Americans who are weary to outright hostile to Wall Street and the large banks.

I’m sure it make for a good grabbing headline, but I’m not sure how it will translate into anything tangible.

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