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Mitt Romney warns of solvency crisis in banking

Republican presidential contender Mitt Romney said on Tuesday U.S. markets were distressed and raised the possibility of a solvency crisis at U.S. banks."We have to make sure these institutions have sufficient capital," Romney told Reuters, describing the U.S. stock market as "distressed".My opinion: I'm a little frustrated by the fact that banks and mortgage companies were lending money at subprime levels, now we are facing a "crisis" for the fourth or fifth time in our history since the Great Depression. Each time the federal government bails banking out in the interest of restoring the economy. I agree that the economy needs to be stabilized, however shouldn't they have predicted this? When you're borrowing money at the prime rate, and lending money to consumers who are over-extended on creditat rates below prime, it's just a matter of time before bad business turns into a crisis.Small community banks aren't doing this, it's just a big kids, and a mortgage companies. Why is it that the biggest organizations tend to forget the fundamentals of banking and business?

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