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Economy
U.S. banks told to make plans for preventing collapse
2012-08-11
Long piece about 'recovery plans' and 'resolution plans' by the big five U.S. banks to deal with any new disaster. This shouldn't be big news; it's much like the military having a plan in case we're invaded by Canada.

Interesting read if you're curious, and it does represent some quiet competence (for once) by the Fed.
Posted by:Steve White

#3  Unfortunately with 16 trillion in debt and major uncertainty with November election there could easily be a run on money at banks, major loan defaults (private and public) and a stock market flash crash that does not recovery quickly.

Not sure where the breaking point will be but sooner or later there will not be enough liquity to maintain the ever increasing borrowing and printing of money.
Posted by: Airandee   2012-08-11 22:27  

#2  Safe for government takeover. That is what has happened in the past. South Vietnamese people lost everything they had in the bank. When the Iron Curtain came down many lost everything in their banks. I'd bet this has been going on for a long time. Cuba, Libya, Egypt and perhaps Syria. I can see it now should Obama win the election. We are better able to manage your--our money. Then the buck does stop here.
Posted by: Dale   2012-08-11 16:35  

#1  I'll have to read it and see what the plans are for keeping the executives' assets protected; i'm sure THOSE plans are well-established.
Posted by: Glenmore   2012-08-11 10:33  

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