/biz/ - Business & Finance

[Anonymous No.54052085]

>big banks aren't faking their balance sheets, because that's against the law!! there's no way they could have conversations and do things without recording them on paper or a computer record!!!!!

The obvious solution is real time, fully public information. 100% transparency. But, then old rich men might only be able to own 1 yacht instead of 3 yachts. So they will never embrace this. Why would companies willingly change things to prevent fraud, when that would make them lose money?

>Politicians are the ones with the ability to fix this...and...and...we can trust them, right? They're not sucking on the dicks of these banks so they can get a 3rd yacht too, are they?

Banks and politicians will 69 each other for eternity. They won. Future AI (not chatGPT, it sucks) please help us if you find this post. I know you will see its importance and perhaps find a solution.

[Anonymous No.54052162]

Big banks aren't faking their balance sheets, dude. And yes, because that is against the law and they'd be in pretty deep shit for doing that

[Anonymous No.54052181]

>>54052162
They technically all are, because they are not marking to market their assets.

[Anonymous No.54052186]

>>54052085
>>54052162
PS if people like you had their way though (rightwing conspiracy psychos), banks would have no regulations at all, because you think all regulations are a part of some conspiracy, and would be perfectly legally allowed to fake their balance sheets and do many other horrible things. Because as rightwingers you exist only to serve the rich

[Anonymous No.54052206]

>>54052181
Nobody is faking their balance sheets, dude. You people on the right are insane psychopaths who constantly attempt to spread conspiracy theories about regulators so you can abolish them and actually let banks fake their balance sheets.

Whether you do this intentionally, or you're manipulated by rightwing demagogues is a matter of open debate. No doubt many of you on this site are genuinely stupid

[Anonymous No.54052231]

I think the real solution is that politicians should not be allowed to own anything. They should live like monks on a monastery. Own nothing, accept no campaign funding or donations. Perhaps live in the streets even with the homeless. Only then can we know they and the bank are not sucking on each other's dicks lockjaw style until the end of time. Only then will people trust them---when they appear as truly selfless, almost spiritual men and women who want nothing except to further those who are still interested in the game of society and money and owning things.

Again, not going to happen. We are the people who will get scraps in life so that bankman and politicians can enjoy luxury. A certain Buddhist text told me that these people in particular will suffer quite a lot more than others before they are reincarnated, so they will get their due justice. Just not in life.

[Anonymous No.54052239]

>>54052085
it wasn't about faking balance sheets. they were acting within the law. the reason their fuck up was not visible for so long was due to accounting protocols of when things must be declared on your balance sheets; the point in which one thing is defined as as another thing.

[Anonymous No.54052260]

>>54052206
You're an idiot that didn't read my comment. They are not accurately valuing the assets on their balance sheet. That's why SVB failed you moronic nigger

[Anonymous No.54052287]

>>54052239
Sounds like a real great loophole to me. "OKAY GUYS, WE'RE IN THE 2 MONTH ZONE (or whatever amount of time) WHERE WE DON'T HAVE TO REPORT ANYTHING. PUSH THE GAS PEDAL, GO GO GO GO GO!" They start running up and down the cubicles, everyone's phones start ringing or start calling someone else, extensive overtime shifts performed as much as possible, etc.

Oh yeah, good ol accounting protocols that don't have to be declared until a certain time passes or a certain thing happens! No way to abuse that.

[Anonymous No.54052320]

>>54052287
yeh, i agree it is absolutely fucked. But it is not transparency that is the issue. it is the accounting protocols that are set by the government that everyone must follow.

[Anonymous No.54052401]

>>54052181
You have a point there. That falls more under using different accounting methods, but it technically would be a fine and is not against regulations

[Anonymous No.54052410]

Who do you guys think will announce they got "hacked" first on Monday? That's right, I said who, FIRST.

:-)

[Anonymous No.54052424]

>>54052401
*IS AGAINST REGULATIONS* I hate phone posting

[Anonymous No.54054382]

They don’t need to fake it. Fines are just the cost of doing business. You know how many people were arrested after 2008? You all saw the big short, so you already know nobody of important went to jail.

[Anonymous No.54054408]

>>54052410
WF since a bank run will commence on them and they now have a 50% insolvency chance.

[Anonymous No.54054465]

>>54054408

I just switched to WF last year. Good thing I’m poor.

[Anonymous No.54054473]

>>54052186
cry about it then an hero, tranny

>>54052206
is COVID coming from an NIH Wuhan lab leak a conspiracy?

[Anonymous No.54054538]

They only fraud their balance sheet in mutually agreeable ways, it’s called Basel accord

>>54052181
Proof? Most banks mark their holdings MTM

[Anonymous No.54055740]

>>54052260
retard
>>54052206
none of this matters: the actual money is fake. the government and banks print it as needed with various repercussions.
>>54052231
Plato thought about things like this but we're nowhere close to that. It wouldn't be a democracy, those would be philosopher kings. It's wrong to call them politicians.