Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Bank Failures Visualized

observablehq.com

Post reply on HN
Print view View original

171–180 of 424 posts

Re: Bank Failures Visualized

#171

Post by realjhol »

beginnings wrote: post #75

National governments should control their own money, scrap interest entirely. Let the market decide what each currency is worth for international trading. The status quo international banking system is designed to enslave, and governments can't do anything about it because the banks are above them. How anyone can defend the current system is beyond me. It's not remotely close to being the best we can do, it's a scam…

> It's not remotely close to being the best we can do

"We" can't do anything at all. We are modern day peasants, and we will accept what the regime tells us to accept

Re: Bank Failures Visualized

#172

Post by dalyons »

rr808 wrote: post #23
thehumanmeat wrote: post #2

That needs to go back to the 80s to capture the SnL crisis. It dwarfs 08 in bank failures. It better indicates the conglomeration of the many banks into the few we have today.

> conglomeration of the many banks into the few we have today There are still thousands of banks in the USA. I dont really see why there should be more than 100. Canada has 5 big ones and a few dozen tiny ones. Same in UK and Australia.

It’s not all roses - in Australia and Canada the few major banks operate in pseudo-cartel fashion. There’s few enough that they can effectively collude without doing it illegally.

Re: Bank Failures Visualized

#173

Post by themagician »

bboygravity wrote: post #42
themagician wrote: post #10

Earlier quoted context omitted.

I have faith that we can top S&L. We have the technology. We have the talent. There are six banks with over a trillion in assets in the US. I have faith that one of them has been doing some wild book cooking. I'd place a bet on Citibank, followed by Wells Fargo. There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on… shame on you. Fool me… you can't get fo…

JP Morgan is the biggest one. It can do ANYTHING it wants and get away with it. It can make 10 billion USD spoofing gold prices for a decade and get away with a 1 billion USD fine (and keep doing it) for example. The CEO can go on trips with Jeffrey Epstein, be friends with him and do business with him and get away with it. It made tons of money off of the Madoff ponzi by providing Madoff with a bank account and not…

I want something GOOD like FTX running on Quickbooks. That's what people need to aspire to these days. That's why I like Wells Fargo. Create fake accounts… so absurdly brilliant.

JP Morgan might be the biggest, but I just don't have faith in them like I do Wells and Citibank or even HSBC. Some lame overly complex scheme isn't want I want. I want a decimal in the wrong place that everyone just ignores despite nothing ever adding up. I want vaults full of gold on the books that don't even exist… said to be held in countries that don't exist anymore. I want Superman 3 salami slicing, but maybe one that's been running perpetually since 1980… and it turns out that's actually the inspiration for the scam in the movie. I want Snopes to have to change something from "Legend" to "TRUE".

The world needs to be reminded that the USA is #1 and always will be.

Re: Bank Failures Visualized

#175

Post by jbverschoor »

haldujai wrote: post #128
fwlr wrote: post #89

Highly suggest sorting by date rather than size. Putting the smallest failures at the top causes a little bit of an optical illusion making the first tower appear smaller than it really is. It also highlights that whatever is happening here is drastically different than what happened in 2008 - here we have three “big bank” failures while 2008 had only one, but we have zero “little bank” failures while 2008 had hundre…

The difference is this is missing the biggest failures of 2008 (Lehman, Bear, Merrill) as well as Fannie, Freddie, AIG and TARP.

Indeed. Many factors make me distrust the author about his intentions and bias (great mongering)

Re: Bank Failures Visualized

#176

Post by yieldcrv »

RC_ITR wrote: post #170
yieldcrv wrote: post #159

Earlier quoted context omitted.

because the clawbacks are easier to track through multiple hops, even when the initial recipient had already done other things with the funds

What does that have to do with decentralized consensus? You know, the core differentiating feature of cryptocurrency.

it doesn’t and that wasn't the premise of why we can acknowledge that using that payment network saved everyone time in the clawbacks, despite the shaken confidence that the exact same event caused into that payment network

the main distinction involved here is that not knowing who to subpeona for records slows down everything, whereas with the blockchains used most of the participants consolidate funds into KYC’d exchanges and we know which ones they went to, speeding up requests for records and subsequent action

Re: Bank Failures Visualized

#177

Post by themagician »

yieldcrv wrote: post #20
themagician wrote: post #10

Earlier quoted context omitted.

I have faith that we can top S&L. We have the technology. We have the talent. There are six banks with over a trillion in assets in the US. I have faith that one of them has been doing some wild book cooking. I'd place a bet on Citibank, followed by Wells Fargo. There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on… shame on you. Fool me… you can't get fo…

If you like absurdity, FTX has recovered 7.3 billion out of the 8.6 billion hole and plans on relaunching the exchange to make the last billions back in fees Most noteworthy is that this quick 8 month turnaround is partially thanks to the blockchain, and under no new laws being passed

It's not about the money, it's about the message. It's about running a global financial institution on Quickbooks. It's about not having a bank account. It's about not having stop losses. It's about wiping out losses by making your own money. It's about TOM BRADY. It's about the Larry David ad that ends, "Ehhhhh, I don't think so. And I'm never wrong about this stuff. Never."

FTX really elevated fraud to an art. I'm not even joking. It's beautiful. It's so insane when I think about it that I don't even think it should be illegal. He should through his entire defense behind the 1st Amendment, say it was all part of an elaborate roleplaying game, and somehow walk.

Re: Bank Failures Visualized

#178

Post by kavalg »

lottin wrote: post #155
yalogin wrote: post #73

Weird part about this whole thing is, we have been repeatedly told that banks are good and they learned a lesson in 08. Now both tech and banking are in trouble again.

A bank is a business and businesses fail sometimes. This is inevitable.

However, this time it looks like the government failed, not the banks. If you look at the US government (bonds) as just another business the bank can invest in, you can't help but notice that the business had not been very well managed. It promised that bonds will keep their value, but they did not (currently at market price and in the future, due to their yield suffering from inflation). We still don't have a clear message on the situation with government debt as well, but we are probably headed towards more inflation and/or some (hopefully soft) default(s). And as always, fewer people will have more assets/control and the rest of us will pay the bill.
Post reply on HN