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Smaller Banks Thrive Out of the Fray of Crisis
washingtonpost.com — ... many smaller banks said they were actually benefiting from the problems on Wall Street. Deposits are flowing in as customers flee riskier investments, and well-qualified borrowers are lining up for loans. "We're doing fine. There are 9,000 financial institutions out there, and most of them are small and most of them are doing fine."
newsyanchor- 84 diggs
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- caferrell, on 09/26/2008, -0/+23This is the reason that the bailout is not in the average guy's best interest.
The local bank is still there and is still healthy and has money to lend for people with good credit to buy a home or small businesses with good credit to get operating loans.
Do not believe the ***** that if Goldman and the rest of the criminal Wall Street banks collapse that there will be no money for Main Street. It is not true.
Wall Street has not been there for Main Street in a long time. In fact Wall Street has more in common with Las Vegas Blvd. than it does with Main St.- StingingNettle, on 09/27/2008, -0/+5Great point! I just found one down the street from me. You can look at there balance sheets online. They didn't do subprime loans, they didn't expand fast, its privately held with the executives owning around 68% so its in their interest for it to always do well. I found my new bank!
- caferrell, on 09/27/2008, -0/+5Same here. I bank at a small regional bank here in Wisconsin. No subprime loans, plenty of equity.
Our company also banks there and just increased our line of credit. No problem.
- caferrell, on 09/27/2008, -0/+5Same here. I bank at a small regional bank here in Wisconsin. No subprime loans, plenty of equity.
- StingingNettle, on 09/27/2008, -0/+5Great point! I just found one down the street from me. You can look at there balance sheets online. They didn't do subprime loans, they didn't expand fast, its privately held with the executives owning around 68% so its in their interest for it to always do well. I found my new bank!
- kemp34, on 09/26/2008, -0/+17End the central control! Downsize DC! Return to Constitutional federal government! Let Wall Street greed-based idiots fail!
The little guy will get by and local communities will band together to thrive outside of the yoke of centralized plunder. - Kent4jmj, on 09/26/2008, -0/+16From downsizedc.org
All Congress has to do is remove the mark-to-market accounting rule, and replace it with a "discounted cash flow" accounting rule. Doing so would . . .
* Enable firms to record a more realistic value for their assets
* Boost balance sheets and restore credit ratings
* Provide useful information that would serve to create a liquid market for these assets
In short, this one simple regulatory change would accomplish everything the Big Bailout is supposed to achieve, with NO expenditure of federal funds!- caferrell, on 09/26/2008, -0/+7I am glad that someone is making this idea heard. Why aren't we talking more about this?
Nice find Kent- Kent4jmj, on 09/26/2008, -0/+2Thanks. to tell you the truth I don't fully understand it, finance is not my strong point, but I believe I can recognize the truth when I see it more often than not.
By the way did you catch article over at catholicexchange.com ?? - caferrell, on 09/26/2008, -0/+3Not yet, I am still working, but in an hour or two I can settle down and catch up.
By the way, why don't you post the link to the article at downsizedc?
- Kent4jmj, on 09/26/2008, -0/+2Thanks. to tell you the truth I don't fully understand it, finance is not my strong point, but I believe I can recognize the truth when I see it more often than not.
- brad3378, on 09/27/2008, -0/+2Isn't this what the Sarbanes Oxley act was supposed to do?
- caferrell, on 09/26/2008, -0/+7I am glad that someone is making this idea heard. Why aren't we talking more about this?
- Linguo, on 09/26/2008, -1/+5Until the best run ones become super-banks after the economy gets good again and they become responsible for the next financial crisis.
- caferrell, on 09/26/2008, -0/+7As soon as they start hiring million dollar Wall Street "professionals", they will mutate from serious financial institutions into gambling concerns
- bhamster, on 09/26/2008, -0/+9not to mention your local credit union.
- cashman57, on 09/26/2008, -1/+6My only banking is a credit union account that I use to pay my monthly expenses.
Other than that I have nothing in any bank. My wife does have a checking account with the bank down the street- Paultards, on 09/26/2008, -7/+1Who cares ??
- cashman57, on 09/26/2008, -1/+5Looks like someone let sportsstar67 out of his rubber room again.....................
- Paultards, on 09/26/2008, -7/+1Who cares ??
- Sandiec99, on 09/26/2008, -0/+6END THE FED!
- AlbinoRaven, on 09/27/2008, -0/+3I believe the term the article is looking for is economy of scale. Badly put it means: the larger it is, the ***** it runs.
Which is absolutely true. Closer to the ground something is run, the less likely they are to screw someone. - crocev, on 09/27/2008, -1/+2Sorry, I dont buy this.
Smaller banks have also bought the toilet paper from Fannie and Freddie, Lehman, etc.
So they might look like they thrive, but the whole financial system is in deep trouble.- AlbinoRaven, on 09/27/2008, -0/+1True,
Sad thing is they probably told at the time things were peachy.
- AlbinoRaven, on 09/27/2008, -0/+1True,
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