3 ways America should be more like Canada

[24KT]

Another way Americans should be more like Canadians is to get out of everyone's bedrooms!

[avxo]

Get your money out of the "Big 6". In the USA, they call them "Too Big To Fail" (TBTF).
In Canada they call them the  "Systemically Important" (SI) and they have a lot of derivatives exposure.

Bail-in provisions are now entrenched & codified into law throughout all the western nations.
We were ALWAYS unsecured creditors at the back of the line. The only reason they did the bailout in the USA, is because they got too many nut jobs down there with guns, and they weren't ready for the inevitable fallout.

Yeah... That's exactly right. They did it because of "nut jobs with guns"...

[Mr.1derful]

Get your money out of the "Big 6". In the USA, they call them "Too Big To Fail" (TBTF).
In Canada they call them the  "Systemically Important" (SI) and they have a lot of derivatives exposure.

Bail-in provisions are now entrenched & codified into law throughout all the western nations.
We were ALWAYS unsecured creditors at the back of the line. The only reason they did the bailout in the USA, is because they got too many nut jobs down there with guns, and they weren't ready for the inevitable fallout.

They did the bail out because it was a money grab and most citizens are too imbecilic to comprehend this, or do anything about it.  There were many banks that received bail out funds who did not require it.

[James28]

Uhm; what? I don't follow.

Nor does Coach, that's why he left the thread already.

Coach doesn't understand the difference between banks acting as guarantors or 'injecting' 245 billion into bailouts

[24KT]

Yeah... That's exactly right. They did it because of "nut jobs with guns"...

If you're the Gov't, which would you rather deal with?

A) The fallout from bailing in funds from 300 million armed Americans?
B) The fallout from bailing out Wall Street banks?

Either way the tax payer covers it, ...but would you rather the 300 million gun nuts feel the immediate loss,
Or would you rather slowly acclimatize them to it, while you grab their guns, line your ducks in a row, and arm every federal agency up the wazoo?

Anarchy & chaos in a society full of gun owners isn't a fun place to be is the point I was getting at.

[24KT]

They did the bail out because it was a money grab and most citizens are too imbecilic to comprehend this, or do anything about it.  There were many banks that received bail out funds who did not require it.

Actually, they all needed it, ...some more than others, but they all had subprime & derivatives exposure.

[Mr.1derful]

Actually, they all needed it, ...some more than others, but they all had subprime & derivatives exposure.

Not entirely true, considering there were banks that received funds that did not ask for it, but received money anyway, to obscure the identities of some of the banks that were most in jeopardy.  You also don't voluntarily pay 100 cents on the dollar for toxic assets, many of which Goldman Sachs under-wrote.   

[24KT]

Not entirely true, considering there were banks that received funds that did not ask for it, but received money anyway, to obscure the identities of some of the banks that were most in jeopardy.  You also don't voluntarily pay 100 cents on the dollar for toxic assets, many of which Goldman Sachs under-wrote.   

HA! They didn't voluntarily pay 100 cents on the dollar for toxic assets underwritten by Goldman Sachs.
Goldman Sachs told them to do it, ...and it has always been Goldman Sachs calling the shots and issuing orders.

[avxo]

HA! They didn't voluntarily pay 100 cents on the dollar for toxic assets underwritten by Goldman Sachs.
Goldman Sachs told them to do it, ...and it has always been Goldman Sachs calling the shots and issuing orders.

Of course... Goldman Sachs told them to do it...