President of the American Bankers Association Denies Banks in Trouble

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Analysis:

Edward Yingling, president of the American Bankers Association, speaks in this video interview against privately-produced ... (read more)

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Realscoop2

Date and Time:

Tuesday January 06th 2009 10:27 AM

Tags:

American Association Banking Street Wall

Categories:

Finance: Wall Street



Analysis

Edward Yingling, president of the American Bankers Association, speaks in this video interview against privately-produced lists of over-leveraged banks. Yingling believes that the general public is not capable of comprehending the significance of these "simplistic" lists, which give info on banks' cash-to-debt ratios that the federal government has kept secret.

Watch the Believability Meter go red when Yingling says the ABA thinks it's "irresponsible" to circulate the lists. Perhaps because he realizes that bank liquidity is something informed consumers might legitimately worry about. Of course, it also might be tough for some of the ABA's members to do business if their customers knew they were about to collapse.

Do you think consumers can handle the truth, or should the government shield them from unpleasant market knowledge?

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