Way to Russia Talk Lounge

Shadow · Just Starting Joined: 14 Sep 2008 Posts: 9

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.

Ender

Shadow · Just Starting Joined: 14 Sep 2008 Posts: 9

origin of the crisis is not in Russia. russian economy is not big enough to pose a threat to world economy.

MelissaCato · Lounge Lizard Joined: 27 Dec 2006 Posts: 174

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

Shadow · Just Starting Joined: 14 Sep 2008 Posts: 9

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).