Volcker Alliance Director and former Federal Deposit Insurance Corp. Chair Sheila Bair joins the On the Move panel to discuss the risk of collateralized loan obligations and the health of the banking industry.
#bankingstocks #Bankingcollapse #FDIC
This segment originally aired on July 22, 2020.
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I think a lot of people, at least in Canada are in subprime mortgages. It’s advertised everywhere, even in Toronto where you would think that would be impossible.
Sounds fishy to me! 🤔
HMMMMM….. let’s pay medical professionals to make “financial” decisions.🤔🤔🤔💥
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When will we learn that you can’t predict the future? The only way to a stable and safe economy is through limited liabilities. Financial people do no work and get paid for it. The real value is in solving problems not allocating resources that should be the easy part if you value invest. Just using cheap money to try to make it big and than they end up with egg on their face pathetic!
Play stupid games win stupid prizes
Buy gold silver bitcoin anything just get out of cash
You’ll know when you find that can’t withdraw your hard earned money.
I think Detroit is about to be back as a big city again. For the Cheap housing, you can easily buy from the bank, fix it up, put it up for rent or for sale. BUT you’ll have to look at where people are moving to, so you can get some tenants.
Don’t worry folks, The FED will come to the rescue and bail them out. Just buy the dip and everything will work out just great.
I don’t buy this, partly because it is hosted on Yahoo Finance and partly because it feels like part of the fear to create chaos program.
Google owns Yahoo. Tech guys are trying to play big games.
@Serge Verizon own Yahoo; Google owns the universe
Good point. The banks must want no one to invest this way they get to own everything and everyone
@Steven Majercak Buy crypto and gold/silver.
@cj2020 or train to defend from us govt and bank officials I think they are both headed in same direction
The fed is not going too let them fail….I’m sure they know that
Good. We don’t need them
Really simple – the dollar is worthless. Gold is real value. The Greatest Depression is ahead.
Is this from the 2008 crash? Same story playing over and over and….
a gigantic ‘trump reset’ will fix it
turning in all your change is the collection
Defined to me by a wise man over 40 years ago. He said it doesn’t matter what the government is saying…A recession is when your friend is out of a job. A depression is when YOU are out of a job.
I have found this to be very true over the years…
The banking crisis will emanate from Deutsche Bank. When Deutsche Bank blows many will go down with it. They will then blame the common person for the coming banking crisis and will impose bail-ins.
BANKS= legalized crime
Mortgages tend to encourage estimated values of housing to go up, driving housing costs up. And often faster than wages go up. Reducing the amount that people can spend to buy things, and services. If people go homeless it is very difficult for them to hold down a job.
The true value of your house is the cash you put down on it. The rest is just rent you are paying to the bank, who is your landlord, that doesn’t do any maintenance or repairs. It is a scam.
Mortgages are price gouging their customers. It is a bubble. Like the stock market, it will correct, and since these are both gambling with other people’s money, they are prone to corruption. Corruption needs to be illegal.
Support the Ant-corruption Act . Org.
Federal reserve will print more and bail the banks out while we all pay higher prices through inflation
@B Mine then if they are in charge then why isnt funding here? Because they are not in charge it’s just that low rates are the only option. Or they might be in charge of some aspects not all. It’s not like the cb is no more we still owe them. If we didn’t have debt to them yeah they are not in charge but we do
@B Mine It’s amazing people don’t know this yet. This is why gold and silver is going crazy from people hedging. I have been telling people for 2 years to prepare. Do they listen nope…..
The rich think they’re in charge. The fact is, they’ve lost control of their income and wealth suction cartels. And now it’s another game over.
@Patricia Ikeda well go max your credit cards then brah.
@Steven Majercak That’s not how it works. Because credit card company will increase their interest based on their loses. Just because a currency changes doesn’t make the debts you owe go away by law. The banking system with intergrate with the new currency quietly you will start seeing options to pay with crypto “to help international trade”. The Fed reserve note will get upgrade and suddenly new interesting security features will replace old bills, this has allready started and it is being done.
Most people can’t even handle a basic budget how are they going to process a currency change? Those of us that have been paying attention are getting prepared you should too.
Banks lend out “fictional” money i.e. money printed out of thin air = crime against humanity….
If banks collapse it is only because the central bank is implementing a one world “digital dollar” that you operate by app not by account or with interest rates and debit orders anymore! This app is connected with your new ID (microchip) the Covid19 which stands for “Certificate of Virtual ID”.
Your vaccine will give you access to this new yet still “centralized” banking system worldwide. Conventional banks will then become obsolete.
Decentralised bitcoin is waytogo. Best asset class in the world and you have your own bank!!
Collateralized = They hold your home hostage until you pay each month.
Its called secured and in return, you get a lower interest rate.
Rents/mortgages and wages are out of sync. This means corruption is at play.
Rising wages would skyrocketed inflation which would immediately lower our debt. Make minimum wage 25 buck an hour and watch how affordable your entire existence would get, BECAUSE of inflation
Yeh. I am not voting
Steven Majercak
Don’t give up your vote. It’s something many people around the world don’t get to do.
Even if you don’t like the choices, vote.
When I do lobbying, they always check to see if I have voted.
In groups I am in, the politician has made people wait in the lobby who haven’t voted, while I go in and talk to them.
They don’t know who you voted for, but they need to know you are a voting constituent.
You can work with both sides.
Try talking to your elected officials and representatives. They work for you. Essentially, they are your employees.
They do listen. Call them, write letters, meet with them.
@Ideoform Sun I feel each party headed to communism. Cons say one thing but just want to eliminate a different swath of people completely could care less about torture in our jails. Cons currently have better rhetoric but I cant in good conscience vote. Aj trying to kill catholic faith . Hannity could care less about torture. Forget it.
Steven Majercak
Each of the things you are talking about are issues. You are voting for a person, not a party. The parties seem to be stronger than our elected officials. But the parties are unelected, they are not our government.
Each issue can be dealt with, through our democratic system, but by not voting, you are treating this country like it is communist, where nobody gets a vote.
Be careful where you get your information from. Listen to the candidates talk, unedited by some group. Make up your own mind from what they actually say, not from some pundits interpretation where they try to think for you.
Citi and Chase cut my credit card limits on more than 70%, something is going on with these banks. Had $25k on one of my cards and the limit was cut to $5k. Prepare people..
My limits haven’t been cut, but I have a 800+ fica score.
Top rating in a corrupt system isn’t reassuring.
I called and was told they are doing random account revaluations. I paid what I owed and definiey will not bank with these sharks ever. My fico hasn’t changed, is not a 800 but around 700’s.
@kingmike40 my limits haven’t changed either. 800+. I keep checking though. I only use about 1/10 of my lines for monthly expenses and pay it in full. I really don’t care if they shut it all down (except for my United card, I’m working on my Star Alliance points)
“We could go into a deep recession”. UNBELIEVABLE! WE ARE IN A DEEP DEPRESSION! Its time to pull your head out of your ass.
Good mission to you, sounds worthy.
Bitcoin. Gold. Silver.
How are you putting bitcoin or any cryptocurrency fraud with commodities such as gold and silver? Hahaha only idiots would buy cryptocurrencies haha
Banks lacking transparency? Shocking.
The 1928 Stock market crash was a lie in that margin buying was the cause and was greedy Americans fault. The liquidity crash was a result of a European bank bankruptcy and the contagion spread around the world. Currently, Douche Bank in Germany has seen its share price drop from $38/share to $8/share to $2/share due to money laundering of Russian drug money. If the German government doesn’t bailout Douche Banks gambling losses we could have a 1928 repeat.
What happened to bank stress tests? They are now supposed to be able to weather a financial crisis. LOL The bailouts began in September 2019. The granddaddy of all banks, the Fed, won’t allow any level of misbehavior on their parts to ‘hurt’ them. Ka … the put.
She said we’d have a bond bubble crisis in 2012. Yeah, we’ll eventually have a crisis, but you should lose points for the wrong predictions, not just gain them for the right ones. It makes a difference if we have a crisis now or in a year, three, or ten.
It’s the craziest year in recent memory–a good time for a perma-bear to show up and make a prediction and hope it comes true.
Biden and Congress will need to stop these shell games and start breaking up the big monopolies.
What is so funny about this potential financial catastrophe Sheila? He he he she exclaims!
America and Europe are already in a deep depression which they won’t be able to come out of.
Modern society is collapsing
Pnc is a bunch of liberal Nazis they’ve been not processing PPP loans but yet they have the money and will not give it out why ain’t they going to prison for this go figure don’t worry truck jack ass is like the ones on this channel will protect them
This is a canard all debts have already been canceled by the creation of a 0 fraction banking system.
Money doesn’t matter. None of this stuff going on matters. We are in the end times. You need to rebuild your relationship with God. Fast.. and get on your knees to cry and pray to the Lord for forgiveness. They don’t want your mind to be on repentance.
All part of the plan to strip the people of there wealth and living standards. Dont accept a cashless society or the scrapping of your national currencies
Let the banks collapse so we can replace them, once and for all, with a *just* monetary system; a system of promissory obligations free of extrinsic manipulation.
The term for a parasite that kills the host is “parasitoid.”
Any purported economy ultimately terminates itself under insoluble sums of falsified debt.
As easily, accurately and reliably as we can calculate the interest a person pay on a debt next month, we can project the maximum possible lifespan of any purported economy subject to interest.
Just as the interest We The People are unjustifiably forced to pay to peripheral banks is terminal to us, the interest those purported banks are forced to pay to the central bank is terminal to them.
Interest imposes an implicit obligation to maintain a vital circulation by a perpetual cycle of re-borrowing. Each time we re-borrow all that’s been paid out of circulation, every prior sum of debt is sustained and then further increased by ever greater sums of periodic interest.
Eventually, all the circulation is dedicated to servicing this escalation of falsified debt and there is no circulation left to sustain the industry and commerce whom are obligated to service the debt.
Creditworthiness for further borrowing (necessary for sustaining the circulation) is inevitably destroyed.
Of course, someone ignorantly asks, “who would lend us money if it weren’t subject to interest?”
The fact is, we don’t borrow money from banks and not even the falsified laws that have been imposed upon us can demonstrate so. Our debts to each other.
The purported banking systems of the world can neither produce nor otherwise demonstrate any fact they give up lawful consideration in the purported creation of money commensurable to the falsified debts they claim. .
But even more importantly then, their failure to do this further comprises a failure to justify that any property of the purported banking system is ever at risk, as only might ostensibly justify purported interest. .
What is so important about this of course, is that the present ever unjustifiable imposition of interest is itself is inherently terminal.
There is only one sustainable and legally binding answer to all of the cries for mortgage forbearance
and eviction moratorium during this economic crisis
.
Like any mathematical formula, there is one and one only solution.
If inflation and deflation are defined, respectively, as increases and decreases of a volume of circulation *per* represented property, then the only way to solve for inflation and deflation is to maintain a volume of circulation which, at all times, is equal to the value of the represented property.
The only way to maintain this ratio of the volume of money to the value of property is by eradicating interest and establishing a necessary schedule of payment of principal *only* at the rate of depreciation of the represented property.
“While 12,000 homes a day continue to go into foreclosure, mathematically perfected economy™ would re-finance a $100,000 home with a hundred-year lifespan at the overall rate of $1,000 per year or $83.33 per month. it
Without costing us anything, we would immediately become as much as 12 times as liquid on present revenue.
Transitioning to MPE™ would apply all payments already made against existent debt toward principal. Many of us would be debt free.
There would be no housing crisis, no credit crisis. Unlimited funding would immediately be available to sustain all the industry we are capable of.
There is no other solution.
Regulation can only temper an inherently terminal process. If you are not promoting mathematically perfected economy™, then you condemn us to monetary failure.”
Copyright 1979-2020 by mike montagne — founder, PEOPLE For Mathematically Perfected Economy™, original 1968 author/engineer of mathematically perfected economy™
Deep recession??? We are in a depression. We aere surviving on bailouts. 29 .4% unemployment during depression. April showed 15% unemployment.
Thanks to the zionists controlling America and being greedy and scummy that’s why.
For now save must possible thereafter close. All bank accounts
if only The Republican made a strict control lockdown earlier than they could potentially save the economy and Danny himself not refusing to wear a mask
they may have to just use forbearance . but for real what would help the nation the most is a move that would cause the banks to fail. as harsh as it seems everyone having a fresh start that owes money. the G W bush bust to me was when my home was stolen . i lost not only my home but all the payments i made on my house that was stolen by the g o p sub par foll bush.
They keep changing the rules on fees and they keep customers and keeping your money longer and longer. If your deposit has been given to the bank, why should they get to not make it available to you?
And the politicians will be falling all over each other to bail them out with our money.
Is money worthless, the bankers, Wall Street, we are in a problem with all these derivatives? The greed of CEO’s, corporations, the rich we are destroying ourselves. We need someone besides the morons in the administration and conservatives in general, they are insanity stupid.
Take the stairs not the elevator!
Banks Bad Bad Bad
And here we see the true reasons for a “pandemic”.
Some suspect virus reason.
Michael Dalton *plan demic
@PauliDee, TMJ Nothing planned. The Trump administration removed all funding and plans so there was no plan when the pandemic hit, just denial &magical thinking,failures & death.
NEAR TERM EXTINCTION – HUMAN
Sure. Not a trump fan here.
This was planned.
It’s not about a recession. It’s about making debt unsustainable that cash is no longer an option. One world order with one world currency to ultimately control all populations. Get it now?
Why is she laughing….?? FFS
lmao, NO crash coming. The 2/2020 crash is long gone in history…the bull market has been going on 6 months. I’ll ride
this wave up over the next 8 years.
I bought Facebook, , Apple, , Adobe, Alteryx, Wells Fargo.
TRUST THE PROCESS. The stock market goes up in the long term because it takes 2 steps forward for every 1 step backward.
Cash is trash, it loses to inflation.
100% sure that the market will go up. Think about it, who would lend out their money and accept risk yet not get a
return?
If the Fed had not stepped in, then every investor would rather keep their money and not lend it out, which would crash
the country and we’d have 100% unemployment.
There’s a lot of money on the sidelines, there’s also new 401K money coming in every day.
I’m up +10% in the last hour Friday thanks to Apple and Facebook.
Naw, The banks recovered well in 2008 so I expect them to recover well again. Wells Fargo earned $20 billion profit in 2019.
It’s the 4th largest bank in the U.S. and the #1 in consumer banking (the other top 3 banks are investment banks). Home
builders reported doing well so that means mortgages.
Yeah. Im not too worried about the banks just closing up and telling people they cant get their money but it would not be unwise to have a stash in a safe place some where else just in case. Oh and banks are one of the safest places to have money.
Forget that! How are small businesses supposed to pay back their debts when they’re not even allowed to open!!??
Google owns Yahoo. Tech guys are trying to play big games. Also, I wonder when Google will have its own bank..
Ummm verizon owns yahoo…
Well, I will pull my money out of the bank. Thank you yahoo finance for the warning.
If the bank collapse because they are trying to bring down the people that owns most of the banks- so they must be putting a hold on making money for right now.
Didn’t we see this movie before and Trump wants to deregulate even more.
Let’s not create a panic
man why do pepüle still give phone interviews with crappy quality? its 2020, they could at least have used skype
Shut the banks down, there elegal in. The constitution.
The ruling class makes the rules even the u.s. constitution. “One who controls the supply, controls the people.” – Henry Kissinger.
So let the banks fail this time. Did we learn anything from 2008? Apparently what the banks learned is that they are “Too Big To Fail”. They went right back to the CDO shell game with the same result. Let them fail. Let their investors get wiped out. Maybe the new banks will get the message that they can’t take our earnings for a lifetime and expect us to bail them out of their bad decisions based on greed.
When I take the trash out, I tie a bow in the top then pitch the whole thing. That sums up how its going to be. Thieves get caught.
The Federal Reserve has been merged with The Treasury and is squeezing the Central Banks……its on purpose, we are going into a reset based on gold, not fiat money.
You mean digital currency.
Anyone invested in anything other than gold, silver, crypto, guns and food is living very dangerously.
Everything you said besides Gold is worthless if things get real desperate
If I had any money, Tesla sticks would be nice, I would buy stocks in AI and BIG Pharma, those are the corporations that would be making money in the future. Don’t forget weapons manufacturers as people will be buying weapons for protection as things get unstable, don’t forget tents , RVs etc…. People will be fleeying the country in mass.
@monmalin Tesla (like all “green” industry is largely a fraud. By investing in AI and big pharma you are helping the enemy of humanity. Remember a lot of those companies are the same companies that supplied chemicals to Hitler and been involved in every harmful industrial process known to mankind.
@David Webb We are talking about making money here right?
I have a feeling that a lot of people especially millennials and Gen X won’t be marrying or having babies. We are going towards a major population decline. We might as well get out of the matrix with a minimum confort. I foresee that the changes you talked about will happen in the west in next as it already happened in China with ( social credit score, Virtual mobile payment system )
I see a lot of people moving to 3rd world countries for retirement as some Bible scholars say, what is written must come to pass, what can we do to stop those billionaires from poisoning our food, mind , health and private lives?
@monmalin Yes I understand you’re talking about making money but at any expense? You can do whatever you feel right but I would never invest in corporations that want to kill me. It’s like lending a mugger money to buy the gun he’ll shoot me with.
We “could go” The collapse has been in the works since about the early 2,000’s.
Agreed 👍
Should have went when Lehman’s went
Go away fake news we do not want you ! AMERICA is for Trump!
Banks are being thrown under the bus by the Fed so that they can be the true central banking monopoly, as buyer and lender of last resort. They will sacrifice all of their spawn, (big banks), to do this to complete thier century long plan.
Pretty much now seeing the end of America.
Wont last much longer.
I know. 😣
Trump is changing us over to the Gold standerd
This is the stuff we need more of on mainstream media. I understand the severity of the virus but this needs just as much coverage
Going forward no one of modest means will ever invest just wait for firesales. It is what it is. I am sure the banks have ar15s in NYC. Go ahead be sanguine
Wow,did you all know the Rothschilds had a billion dollar wedding a week a so ago. Damn that document you all call the constitution,look like now is just a piece of paper that means nothing.
Dollar needs to be backed by gold and silver like back in the day.
If banks collapse its the end of this country
Yo no plz not CDOs again 😭😭😭
Unfortunately this is Yahoo news, know for fake news.
Guess nobody heard about Gesara Nesara.
People who owe money and lenders
You loan us money on interest and you know how it is to be a leech and Did you take vantage of people’s ignorance it’s there fault cause they followed you but you knowingly did it So there’s your crisis in a nutshell
I believe the term is depression…
NESARA/GESARA
Optimistic fool…
umm… We caused this. This is our fault. We closed down our bussiness for a virus that has a 99% survial rate. HAHA We are DUMB! BTW.. I have been telling people for years. GOLD SILVER CRYPTOS get out of the system or die with it.
Hahahahaha..
One more bailout and they
Will be closing..👁
HURRY UP !! Print MORE $$$$$$ That HAS been the answer, hasn’t it ??
America is DONE!!! it’s OVER!!! people.
It needs to be over with
This should show humanity how dumb we are… The only species on earth that functions on money a made up concept thats has no true value not backed by gold silly rabbits tricks are for kids
Never put all your money into a bank, they see you as nothing more than a number and nothing more. As much as everyone may want things to go smooth that’s just not in the cards for the next couple of years.
Good afternoon … I understand this not a spiritual page.. so I will rearrange my ?… we have a PROFET who says we are going into a major economic break down in Aug … he says to take the money out of our banks … and buy cript coins…or bit coins … what is happening …can banks break and close with our money ???
I WISH the banks would fail. That would be a good thing. But that would not lead to a recession because we are already in a Depression.
* By design
untrue – all the QE went strait into bank and funds so they are cover many times over. This crisis surfaces in 2008 and was covert up not solved.
Only thing that might come down is the USD $ and fed itself – not bad thing in the end.
OH MY GOD! WE’RE ALL GONNA DIE! AAAAAAAAAAAAAAAAAAAAAAAAAAAAAaaaaaaaaaaaaaaaaaaaaaaaaaa
Way to downplay just how bad it really is. Bravo!
Plandemic is a great cover for years of financial criminal behavior from the fed and central banks.
The banks are not going to collapse. They are pretending to collapse so they can get bailout money. They will be around for the foreseeable future. How can someone who makes profits on your deposits go bankrupt, can can someone who makes loans to the entire world with all the Trillions in deposit go bankrupt. Think about all the bank owned properties ( housing + businesses + card ,etc…)
Unless a bank gambles with derivatives it seems impossible for them to go bankrupt. Either way they will get bailled out or bought out by bigger banks.
It’s all a big joke to this Bair woman.
Notice that bankers, accountants and economists don’t get laid off.