tag:blogger.com,1999:blog-2105609655817239699.post3718997741335514552..comments2023-10-20T07:51:45.504-04:00Comments on Prof. Wombat: second opinion: Making ThingsProfWombathttp://www.blogger.com/profile/11251229209601018545noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2105609655817239699.post-29459410696068599262010-08-28T07:09:20.156-04:002010-08-28T07:09:20.156-04:00Of course, when you're making things all sorts...Of course, when you're making things all sorts of people are employed at a livable wage. Including people who have not completed a graduate degree. There needs to be a place in society for everyone to make a living.<br /><br />Good post, Prof.qlhttps://www.blogger.com/profile/11201381013699393339noreply@blogger.comtag:blogger.com,1999:blog-2105609655817239699.post-4149601712860338402010-08-28T06:51:46.837-04:002010-08-28T06:51:46.837-04:00Trouble is, if you're competing in the same ma...Trouble is, if you're competing in the same market as the banksters who are creating the problems, you need to show the same stats to attract depositors/investors, so you have to pump up those stats to match. Something like the claim by Freddie and Fannie, that they needed to push up their numbers ... tho I don't totally accept that.Ruthhttp://seminal.firedoglake.comnoreply@blogger.comtag:blogger.com,1999:blog-2105609655817239699.post-31111810583518014872010-08-27T11:55:40.459-04:002010-08-27T11:55:40.459-04:00From what I've read, too many banks aren't...From what I've read, too many banks aren't the problem as much as too many big banks, without the old separation of banking and investment/securities trading mandated under Glass-Steagall, and the selling of loans and mortgages to secondary market players. If you can make lots of money securitizing loans into bonds and derivatives, you'll want lots and lots more loans to do that with. And if the loans are to dubious borrowers, or backed by dubiously valued assets, the originator could care less. It becomes someone else's problem.<br /><br />Community banks, lending locally and tending to their knitting, are a whole 'nother thang...ProfWombathttps://www.blogger.com/profile/11251229209601018545noreply@blogger.comtag:blogger.com,1999:blog-2105609655817239699.post-55344250922170366122010-08-26T13:53:21.111-04:002010-08-26T13:53:21.111-04:00Have heard some discussion of one of our weaknesse...Have heard some discussion of one of our weaknesses being that too many banks are allowed in this country, and their competition leads to some of the recklessness with our money system that has been part of the problem - in something of a parallel, manufacturers of cars cut back the number of dealerships, to keep them from putting each other, and their supplier out of business. Interesting theory, haven't gone far on it yet, though.Ruthhttp://seminal.firedoglake.comnoreply@blogger.com