No, not from robbers. From their own foolishness. And they get to be legal robbers of the taxpayers. To wit:
What else can it possibly mean when taxpayers have to pony up hundreds of billions of dollars every other month just to keep the banks running?
If that’s not being insolvent, what is it? Being broke? Being “illiquid” (meaning you own things you say are worth money but no one is willing to buy them so you have no cash)? When we can’t pay my bills, we get thrown to the wolves. Why are we also getting thrown to the wolves when these asshats can’t pay their bills?
So who’s actually in trouble? Bank of America and Citi are the biggest two. Fifth Third Bancorp, Regions Financial (which my fiancée’s grandfather help build into an empire in the post dub-dub-two era) and my good ol’ trusty family bank, Wells Fargo (I mean, my grandpa used them since the early 70s and I’ve had a couple accounts there). At least Wells Fargo has pretty pimp-ass ATMs equipped with direct check and cash eater holes – about time! I hate filling out envelope bullshit to deposit money that someone opens up and then has a machine scan anyway. However Wells did buy Wachovia, one of the biggest sub-prime lenders out there.
It’s a sad, sad state these banks are in, and we’re just going to have a 20 year depression like Japan is suffering through if we continue these insane economic policies they already failed at – they had just started to grow again when the world-bubble popped and sunk them, they’re on track to beating the ultimate low of the Great Depression, only 19 years after the initial crash, not 3 like in the Depression.
Tags: bitching, depression 2.0, no really we're really fucking fucked this time