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Why is there not a wave of NEW bank charters?

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Phoebe Loosinhouse Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-29-09 10:42 AM
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Why is there not a wave of NEW bank charters?
In order to fa ciliate credit and lending under strict new government regulations tied to these new charters. All the money so far hasn't gone to loosening credit, because as far as I can tell, it's been used to enrich some insiders and to shore up the books against charges of possible insolvency. That's why they're holding onto the money instead of lending it out.

I don't even care if it's structured like Son of Bank of America - a new arm of an old entity. It seems to me that this should be done. If the old entities do end up failing, the new ones will be in place, but free and clear of the garbage stinking up the place. Or all the old entities can be rolled into one Nationalized Bad Bank of United States.

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bertman Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-29-09 11:10 AM
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1. Not to be overly pessimistic about this, but isn't it likely that the new banks will be
chartered by some of the same people who now own the "old" banks? Or their ilk?

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