Whining U.S. banks make me physically ill

great gobs of steaming bullshit... the banks are one of the prime culprits in why the world economy is in the mess it is in right now and, despite the trillions of dollars that the u.s. and the eu have tossed their way, have continued to reward themselves without any regard for the general welfare of the people they were chartered to serve... now, they're saying if they don't get their way, it will only delay any recovery... they can all go directly to hell...

Banks warn rule change will hurt recovery

US banks fear that any recovery in the US housing market will be further delayed as a result of moves to remove credit ratings from American regulations, which will boost banks’ capital requirements by billions of dollars.

Bankers have until Friday to respond to a proposal by the Federal Reserve and other regulators that would increase the “risk weights” on securitised assets, driving up sharply the equity capital that banks are forced to set against them.

screw 'em... they haven't done anything for anybody but themselves...

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Meltdown: The Men Who Crashed the World

al jazeera english is running a four-part series...

part 1...

In the first episode of Meltdown, we hear about four men who brought down the global economy: a billionaire mortgage-seller who fooled millions; a high-rolling banker with a fatal weakness; a ferocious Wall Street predator; and the power behind the throne.

The crash of September 2008 brought the largest bankruptcies in world history, pushing more than 30 million people into unemployment and bringing many countries to the edge of insolvency. Wall Street turned back the clock to 1929.

But how did it all go so wrong?

Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place.

Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced 'light touch regulation' - giving bankers a free hand in the marketplace.

All this, and with key players making the wrong financial decisions, saw the world's biggest financial collapse.

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