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Shadow
Frequent Guest
Joined: 14 Sep 2008
Posts: 13
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 Posted: Sun Nov 09, 2008 11:49 am Post subject: How to prevent financial crisis? government role. |
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The actual financial crisis is a credit crisis. The banking sector is responsible of this mess. Everybody is talking about regulation. But wich regulation?
For example, Freddie Mac and Fannie may, the two US big banks, have been nationalized (temporarly of course) in order to be rescued. but they have been partially nationalized. Private shareholders remain in their capital.
I think that the US governement has missed an occasion to give a lesson to the banking sector. They have sacrificed a bank (Lehman Brothers). This is not enough.
The main problem of this crisis is an irresponsible policy of credit. Too much money has been loaned with low garanties and when the system failed, the government rescued the banks providing liquidites of the Treasure.
To avoid such financial mess, governments should nationalized totaly "big banks" in trouble (like Fannie and Freddie). Try to rescue them (that's what they're doing) and if the rescue is a success, each big bank should be divided in two (or more) small banks. Then, resell this small banks to private operators.
If "big banks" could become small if they fail, they will loan more carefully.
Last edited by Shadow on Fri Nov 14, 2008 11:32 am; edited 8 times in total |
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Ender
WayToRussified
Joined: 23 Aug 2006
Posts: 498
Location: Urals
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| Posted: Sun Nov 09, 2008 4:51 pm Post subject: Re: How to prevent finacial crisis? government role. |
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| Shadow wrote: | To avoid such fiancial mess, governments should nationalized totaly the big banks, like Fannie and Freddie. Try to rescue them (tha's what they are doing) and if the rescue is a success, each big bank should be divided in two (or moreà) small banks. Then, resell this small banks to private operators.
If "big banks" work in a market where they can be reduced to small banks, then they will work more carefully. They willa have a more responsible policy of credit. |
As far as I heard, in Russia big banks like Sberbank and VTB doing very well. Their policies is very conservative. Small banks were hit much harder.
Actually from client's side nothing changed. The only major change is hardened requirements in order to get a credit.
Interesting thing also. Many people closed their accounts in smaller banks and moved their money to bigger banks. Now they are returning back because nothing actually happened.
I have an account in the Sberbank. They have dumbest and ugliest clerks (this is slowly changing). They have queues in any part of day. Their offices are full of old people looking to start a scandal. But! They have ATMs and additional offices on every corner of city. Their fees are lowest among other banks. Sometimes they even "forget" to demand a fee; I use my Visa Classic card free of charge for five years. They work during most of public holidays. They have longest working hours. Their transfers are fast comparing with other banks (2 days from Australia). |
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Shadow
Frequent Guest
Joined: 14 Sep 2008
Posts: 13
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| Posted: Fri Nov 14, 2008 11:12 am Post subject: |
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| origin of the crisis is not in Russia. russian economy is not big enough to pose a threat to world economy. |
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MelissaCato
Lounge Lizard
Joined: 27 Dec 2006
Posts: 177
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| Posted: Sun Nov 16, 2008 6:53 am Post subject: |
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This whole crisis was organized via the Federal Reserve. Just like the Great Depression .. only this will be the Great Great Depression and world wide. Bastards.
November 22 2008 END THE FED Rally Nationwide in the USA.
www.endthefed.us
Woot Woot !!!
http://www.youtube.com/watch?v=XOv1K8ikz5E |
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Shadow
Frequent Guest
Joined: 14 Sep 2008
Posts: 13
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| Posted: Sat Dec 13, 2008 7:50 pm Post subject: |
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The actuel banking sector strategies lead frequently to irresponsible credit policies and financial crisis, and of course, to social crisis.
For more economic and social stablity, the interest and private banking should be abolished. The state should control all the banking sector. If loaning would be free of cost, instead of serving the banks (wich produce nothing), the credit policy would serve only the real economy.
I think, it is only possible in a country like Russia where the state is strong. How can Russia develop its economy (for instance car industry) using a wise consumer credit policy?
With no credit for cars produced outside Russia and allowing only credit for cars made in Russia, that will:
> develop the russian car industry and the russian employment market
> slow down importation of cars. Russia will save more money (dollar/euro).
I'm talking about russian consumers. but such credit policy could also be applied to companies. For example, if a russian air company want to buy new airplanes, the russian government should allow credit, only for airplanes produced in Russia.
With public banks loaning without making profit, the purpose of the credit will be only the development of the real economy (industry and employment). |
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