Big Banks Future!
According to HousingWire…At a recent UofV’s sponsored event, Managing Director of Institutional Risk Analytics, Christopher Whalen, the nations largest banks have only managed themselves out of 1/4 of “inevitable” foreclosed homes.
That fact gives me “goose bumps”.
Think about this:
- The top major banks are currently insolvent…yes, they’re broke…ask any geek on wall street.
- Why? Because of bad business and no solutions to their unsophisticated, greedy lending practices that led to our nations worst ever housing and banking crisis.
- Why does this frustrate me?
- Our Government Officials chose to “shore” up these banks by giving them Trillions of dollars without thinking about the future of the business model. It’s broken…and the only fix is the wrecking ball.
Destroy Big Banks and from them, smaller banks will sprout. Banks not leveraging their shareholders money in goofy schemes of inflated values and “mark to market” economics.
There is no hope for these banks! NO HOPE!
I know, they employ alot of American Citizens, however, are these bank employees employees of BofA, WF, Chase, etc…? Or are they government employees being paid by our tax dollars? Ask yourself that the next time you get frustrated at the teller when you ask them to do something for you and they say “sure…that will be $10 dollars!”
I know, seems radical…let something fail only to cure it…but banks, as we know them are dying…and we should let them die.
The employees left in the rubble of the imploding banks will be safe. Maybe not tomorrow, but in a few months or a few years, they will, if they are capable and take action, they will recover from there failed employers.
How and where? Simple, the new banks that are chomping at the bit to emerge from the mid 2000’s banking wreckage. There will be more banks rising…we simply need to fleece the forest of this “old growth” and let the proverbial sun nourish these new banks…banks that will take your deposits and give you loans for your needs and ideas. Ideas that will blossom and create new jobs…jobs that the former bank employees lost.
To me it seems so simple…let the old bank business models fail. From their failures, we will spur new business, smarter business and stronger business!
