Hysterical CNBC

[Toro]

I enjoyed watching CNBC last night and seeing the bankers reacting hysterically to Obama's call for more regulation of the banks. The arrogance of these bankers is amazing. First they destroy the economy, then they react with shock when someone wants to regulate them.

I thought Maria Bartiromo was going to shoot herself in the mouth.

One: Link?

Two: The bankers did NOT destroy the economy. Idiot. They are just the latest scapegoat for the progressives. How do you expect anyone (besides the rest of the drooling koolaiders) to take you seriously when you insist on spouting crap?

I'm an investor who deals with bankers and I do believe they bear a significant amount of responsibility for what has happened. They tried to sell me all that shit, making specious arguments about how the housing and financial markets worked. The crap that they pushed on their clients was ridiculous.

 

[Oddball]

I hate these people as much as anyone, but we're not getting an economic recovery until they lend more.

Over time, we'll have more community banks and a return to local banking, but right now if we want job growth we can't tax those who will finance it.

Why should they lend, when nobody knows what policy will be tomorrow and you can get at least half a return chucking your available reserves into Treasuries?

 

[Toro]

If you want to blame "bankers" for the financial meltdown, then blame the idiots that run the fed. It was the Fed's policy of artificially low interest and easy credit that caused this mess. Isn't it ironic that the one banker, Bernanke to be specific, who should be run out of town on a rail after being tarred and feathered is the one Obama is defending

I do believe that the Fed was the primary driver of the housing bubble, but they are certainly not the only one. There are many who are culpable, and I would put Wall Street near the top of that list.

 

[william the wie]

Sorry but I have to respectfully disagree with damn near everybody to some degree.

Case-Schiller (sp?) have been expanding their housing index further back in time as more public records come online and get fed in to their data base. Real estate bubbles, like 1921-29, are the normal cause of great depressions and using the unemployment metric of the 1930s we are in bigger trouble than in the 1930s.

While fiat currency and banking leverage amplifies such bubbles the major cause is usually birth and immigration waves (Strauss & Howe "Generations"). Other factors are numerous with Reinhardt and Rogoff's "This Time is Different" giving a very long list of ways to go rwong. So going with specie, no central banking and much stronger bank fraud laws will help but won't cure booms and busts. Still sending bankers to 23 hour lock down for life in cases of insolvency does defuse the situation and promotes caution. However nothing is damned foolproof.

I hope I did not offend you.

 

[NYcarbineer]

I enjoyed watching CNBC last night and seeing the bankers reacting hysterically to Obama's call for more regulation of the banks. The arrogance of these bankers is amazing. First they destroy the economy, then they react with shock when someone wants to regulate them.

I thought Maria Bartiromo was going to shoot herself in the mouth.

We need to put banks on the shortest leash available.

 

[mayya555]

In my opinion there are many to blame, but bankers are certainly amongst those guilty, along with the government, citizens overusing credit cards, etc...

 

[California Girl]

I enjoyed watching CNBC last night and seeing the bankers reacting hysterically to Obama's call for more regulation of the banks. The arrogance of these bankers is amazing. First they destroy the economy, then they react with shock when someone wants to regulate them.

I thought Maria Bartiromo was going to shoot herself in the mouth.

One: Link?

Two: The bankers did NOT destroy the economy. Idiot. They are just the latest scapegoat for the progressives. How do you expect anyone (besides the rest of the drooling koolaiders) to take you seriously when you insist on spouting crap?

I'm an investor who deals with bankers and I do believe they bear a significant amount of responsibility for what has happened. They tried to sell me all that shit, making specious arguments about how the housing and financial markets worked. The crap that they pushed on their clients was ridiculous.

I believe in individual responsibility. So, while, yea, the banks carry a large proportion of the blame, so does the government (both parties) and so does anyone who borrows more than they can afford to pay back.

 

[Care4all]

I enjoyed watching CNBC last night and seeing the bankers reacting hysterically to Obama's call for more regulation of the banks. The arrogance of these bankers is amazing. First they destroy the economy, then they react with shock when someone wants to regulate them.

I thought Maria Bartiromo was going to shoot herself in the mouth.

The arrogance of Obama is even more hysterical.

What gives any President the right to dictate terms to the private sector?

The gall of such an action in what is supposed to be a free society.

This isn't Venezuela....is it?

uhhhhhhhhhhh, the President is not and can not regulate the banks too big to fail, but congress can....right?

 

[Paulie]

I enjoyed watching CNBC last night and seeing the bankers reacting hysterically to Obama's call for more regulation of the banks. The arrogance of these bankers is amazing. First they destroy the economy, then they react with shock when someone wants to regulate them.

I thought Maria Bartiromo was going to shoot herself in the mouth.

The arrogance of Obama is even more hysterical.

What gives any President the right to dictate terms to the private sector?

The gall of such an action in what is supposed to be a free society.

This isn't Venezuela....is it?

uhhhhhhhhhhh, the President is not and can not regulate the banks too big to fail, but congress can....right?

Theoretically, the president is not authorized unilaterally to make those kind of decisions. But that didn't stop Obama from firing Rick Wagoner from GM did it?

Sure, you can argue that he "requested" a resignation, but for all intents and purposes, it was a firing.

Don't think for one second that the bailouts weren't thrown right in Wagoner's face as ammo.

 

[Chris]

The Wall Street bankers and the healthcare corporations are destroying America.

The bankers with their $516 TRILLION DOLLAR derivative bubble.

And the healthcare corporations with their sucking out 16% of our yearly GDP...

...and growing.....

 

[boedicca]

The arrogance of Obama is even more hysterical.

What gives any President the right to dictate terms to the private sector?

The gall of such an action in what is supposed to be a free society.

This isn't Venezuela....is it?

Not yet. But Obama has almost three years to turn the U.S. into Venezuela.

 

[Chris]

The arrogance of Obama is even more hysterical.

What gives any President the right to dictate terms to the private sector?

The gall of such an action in what is supposed to be a free society.

This isn't Venezuela....is it?

Not yet. But Obama has almost three years to turn the U.S. into Venezuela.

Horseshit.

I can't believe how dumb you guys are.

It's embarrassing.

Really.