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ysabetwordsmithUS reportedly plans to slash bank rules imposed to prevent 2008-style crash
The move follows heavy lobbying by the banking industry, with lenders such as JP Morgan and Goldman Sachs having long complained that competition and lending have been hindered by burdensome rules governing the assets they must hold versus their liabilities.
Regulators are expected to put forward the proposals this summer, aimed at cutting the supplementary leverage ratio that requires big banks to hold high-quality capital against risky assets including loans and derivatives, according to the Financial Times, which cited unnamed sources.
There is a limit to how much you can do to defend yourself against other people's poor life choices. Every time the 1% go for a joyride and crash the economy, the 99% pay the price. But you can choose where to store your funds, and that can make a huge difference. If you put your money into a credit union instead of a conventional bank, then there is much less tendency toward risky ventures because the officers are elected from among the members who keep their money in the credit union. Find a credit union near you.
The move follows heavy lobbying by the banking industry, with lenders such as JP Morgan and Goldman Sachs having long complained that competition and lending have been hindered by burdensome rules governing the assets they must hold versus their liabilities.
Regulators are expected to put forward the proposals this summer, aimed at cutting the supplementary leverage ratio that requires big banks to hold high-quality capital against risky assets including loans and derivatives, according to the Financial Times, which cited unnamed sources.
There is a limit to how much you can do to defend yourself against other people's poor life choices. Every time the 1% go for a joyride and crash the economy, the 99% pay the price. But you can choose where to store your funds, and that can make a huge difference. If you put your money into a credit union instead of a conventional bank, then there is much less tendency toward risky ventures because the officers are elected from among the members who keep their money in the credit union. Find a credit union near you.
(no subject)
Date: 2025-05-15 07:34 pm (UTC)Yes ...
Date: 2025-05-15 07:49 pm (UTC)I'm particularly concerned because the government has forgotten why American money says, "This note is legal tender for all debts public or private." A lot of places no longer take cash, they only take credit or only take a certain type of corporate token. That's dangerous, because the only reason money has value is because people think it does; and the only reason it can outcompete other means of exchange is its universality; and the only reason federally issued money outcompetes everything else is that it used to be required for everyone to accept it. The fewer places that take it, the more precarious its position becomes. It's also true that money of any kind can only outcompete other options like barter if there is enough to go around. If there's not, other means can beat it.
Re: Yes ...
Date: 2025-05-15 07:54 pm (UTC)Which, considering how shaky the whole house of cards is right now, a bank crash on the same order as last time would be enough to blow the whole lot down.
Re: Yes ...
Date: 2025-05-15 08:16 pm (UTC)(no subject)
Date: 2025-05-15 07:58 pm (UTC)Yes ...
Date: 2025-05-15 08:15 pm (UTC)I'm deeply frustrated by the fact that it's impossible to save money without risk. You can put money in places where you won't lose the principal dollars, but unless it pays at least as much interest as inflation, you will lose value steadily over time. That fails my standards of security. And savings bonds aren't nearly as good as they were when I was little, when if you didn't cash them as soon as they matured, they got more and more valuable over time. >_< The options for safely saving money are just not good nowadays.