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View Diary: Gigantic Journalistic Investigation Begins Ripping Mask Off Bank Secrecy (89 comments)

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  •  A friend was a director of a small bank (3+ / 0-)
    Recommended by:
    elwior, AllisonInSeattle, antirove

    Was, because they changed the reserve rules, did a stress test, found them not in compliance and did not give them time to adjust to the new rules.
    Took over the bank, let a competing bank take over the assets and let the new entity ignore the problem parts of the loan portfolio in its own stress test.

    These capitalists generally act harmoniously and in concert to fleece the people, and now that they have got into a quarrel with themselves, we are called upon to appropriate the people's money to settle the quarrel. Abraham Lincoln

    by Nailbanger on Wed Nov 28, 2012 at 08:45:10 AM PST

    [ Parent ]

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