LibocalypseNow
Senior Member
- Jul 30, 2009
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So does he like or dislike Fannie Mae and Freddy Mac? Hmm?
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Everytime Obama opens his mouth, the stock market tanks. I wish he'd just shut up and go on vacation.
The stock market started tanking yesterday, right after Scott Brown got elected.
Everytime Obama opens his mouth, the stock market tanks. I wish he'd just shut up and go on vacation.
The stock market started tanking yesterday, right after Scott Brown got elected.
And for everybody else, here's an interesting read:
Obama's Bank Plan Flops on Wall Street - BusinessWeek
Ame®icano;1929632 said:What does tort reform have to do with mega banks bringing down the entire economy? But since you brought it up, think the CEOs of those banks aren't frantically meeting with their corporate attorneys?
Mega banks are doing OK. Unless they are GSE's, such as Fannie and Freddie. But he's not talking about them, does he? Has he mentioned Federal Reserve as one of those "big banks"?
Fannie & Freddie were always an arm of government lending anyway. They collected and put the money back in the same organization, operating the same way as FHA. The Federal Reserve is a whole different institution.
And for everybody else, here's an interesting read:
Obama's Bank Plan Flops on Wall Street - BusinessWeek
So does he like or dislike Fannie Mae and Freddy Mac? Hmm?
You need to study history, it was the Fair Housing Act and most recently the Community Reinvestment Act passed by Clinton in his early years that started the financial crisis. BANKS were FORCED into making high risk loans on mortgages or be RED-LINED for growth and opportunities in other neighborhoods. In other words the GOVERNMENT held the gun to BANKS and told them they either make these HIGH-RISK loans or the GOVERNMENT would not let them grow and expand.The GOVERNMENT and it's REGULATIONS caused the financial meltdown.
Now I see we lost 200 points on the Dow because Obama is going after the Banks and Wallstreet, what the economic moron does not yet understand is that the majority of Americans have their retirement funds in 401k's and IRA's, the more he attacks them and threatens more regulations the less our retirement funds.
The president is frustrated these banks are not lending money anyway interest rates can be at 1 percent it don't matter.
I never seen so many homeless people in my life in this country.
Forget the IRA if these banks don't start doing there job you will see more and more people collection food stamps and living in tents.
when the banks don't lend to small American business more people become unemployed then at some point in time their unemployment runs out and then the bank takes their house and their homeless.
I Stand behind Obama 100 percent on the banks.
my favorite part of his speech today!
We should no longer allow banks to stray too far from their central mission of serving their customers, Obama told reporters, flanked by his top economic advisers and lawmakers.
If these folks want a fight, its a fight Im ready to have, he said.
here is the link Obama talking tough with banks - thestar.com
What you don't see to understand is that small businesses are NOT clamoring for loans right now. Given high gas prices..the looming threats of government healthcare, cap and tax, and multiple other taxes businesses are NOT pursuing growth or taking on new employees.
I'm guessing this too will go down in flames. Truth is they are trying to demonize the banks that never asked for what was forced upon them, paid back with interest. Now this? In the meantime, the culprits, Fannie and Freddie never paid zip, were bailed out and will need to be many more times. They are exempted.Here is a test.
It is now very difficult to get a loan or credit.
Do you think Obama crawling up their butts regardings taking risk (i.e. giving out loans) is going to help or hurt this economy?
Also who do you think is ultimately going to pay the new taxes Obama is going to expose on banks? The consumer.
FOXNews.com - Obama Seeks New Government Power to Limit Bank Risks
One administration official said the president began discussing such restrictions with his economic team a couple months ago to "cut down on excessive risk-taking."
Everytime Obama opens his mouth, the stock market tanks. I wish he'd just shut up and go on vacation.
The stock market started tanking yesterday, right after Scott Brown got elected.
What does tort reform have to do with mega banks bringing down the entire economy? But since you brought it up, think the CEOs of those banks aren't frantically meeting with their corporate attorneys?
You need to study history, it was the Fair Housing Act and most recently the Community Reinvestment Act passed by Clinton in his early years that started the financial crisis. BANKS were FORCED into making high risk loans on mortgages or be RED-LINED for growth and opportunities in other neighborhoods. In other words the GOVERNMENT held the gun to BANKS and told them they either make these HIGH-RISK loans or the GOVERNMENT would not let them grow and expand.The GOVERNMENT and it's REGULATIONS caused the financial meltdown.
Now I see we lost 200 points on the Dow because Obama is going after the Banks and Wallstreet, what the economic moron does not yet understand is that the majority of Americans have their retirement funds in 401k's and IRA's, the more he attacks them and threatens more regulations the less our retirement funds.
The president is frustrated these banks are not lending money anyway interest rates can be at 1 percent it don't matter.
I never seen so many homeless people in my life in this country.
Forget the IRA if these banks don't start doing there job you will see more and more people collection food stamps and living in tents.
when the banks don't lend to small American business more people become unemployed then at some point in time their unemployment runs out and then the bank takes their house and their homeless.
I Stand behind Obama 100 percent on the banks.
my favorite part of his speech today!
We should no longer allow banks to stray too far from their central mission of serving their customers, Obama told reporters, flanked by his top economic advisers and lawmakers.
If these folks want a fight, its a fight Im ready to have, he said.
here is the link Obama talking tough with banks - thestar.com
Everytime Obama opens his mouth, the stock market tanks. I wish he'd just shut up and go on vacation.
The stock market started tanking yesterday, right after Scott Brown got elected.
That's because Obama has been announcing his attack on the banks.
The stock market started tanking yesterday, right after Scott Brown got elected.
That's because Obama has been announcing his attack on the banks.
Obama has been president 1 year, the stock market is up 25 plus percent.
That's because Obama has been announcing his attack on the banks.
Obama has been president 1 year, the stock market is up 25 plus percent.
I'm sure as soon as he has time to "help" the stock market we'll see a big plunge. I would suggest he start by limiting profits on oil companies as well as banks.
Obama has been president 1 year, the stock market is up 25 plus percent.
I'm sure as soon as he has time to "help" the stock market we'll see a big plunge. I would suggest he start by limiting profits on oil companies as well as banks.
The banks were perfectly fine without any Government oversight. That crash was just a figment of our imagination.
Yea...lets go back to business as usual
The market tanked the last two days due to China's intent to tighten credit, and Obama's latest move against the banking industry.
Brown's election is offering Wall Street some hope of normalcy, but they are hedging their bets - some profit taking has been underway, and money being piled back up and away from the trading table.
Obama has yet to do ANYTHING of real substance regarding the economy. The stock market gains of previous months were in spite of Obama and the Democrats - and the inablity for those gains to transmit to Main Street is evidence of that.
The Obama White House and Democrat led Congress is a financial disaster for America. The worst spending by the previous Republicans has been doubled down upon.
Sheer madness...
Here is a test.
It is now very difficult to get a loan or credit.
Do you think Obama crawling up their butts regardings taking risk (i.e. giving out loans) is going to help or hurt this economy?
Also who do you think is ultimately going to pay the new taxes Obama is going to expose on banks? The consumer.
FOXNews.com - Obama Seeks New Government Power to Limit Bank Risks
One administration official said the president began discussing such restrictions with his economic team a couple months ago to "cut down on excessive risk-taking."
That's because Obama has been announcing his attack on the banks.
Obama has been president 1 year, the stock market is up 25 plus percent.
I'm sure as soon as he has time to "help" the stock market we'll see a big plunge. I would suggest he start by limiting profits on oil companies as well as banks.
Guess who will pay this tax?? The consumers.
My Way News - AP source: Obama seeking tax on biggest banks
WASHINGTON (AP) - Mindful of soaring deficits and an anti-Wall Street mood, President Barack Obama wants a new 10-year tax on the country's largest banks to cover a projected $117 billion shortfall in the government's financial crisis bailout fund.
The president planned to propose Thursday a levy of 15 basis points, or 0.15 percent, on the liabilities of large financial institutions to make sure every dollar spent from the $700 billion Troubled Asset Relief Program to rescue Wall Street firms, auto companies and mortgage holders is either repaid or paid for. Congress would have to approve the tax.
A senior administration official said the tax, which officials are calling a "financial crisis responsibility fee," would apply only to financial companies with assets of more than $50 billion. Those firms - estimated to amount to about 50 institutions - would have to pay the fee even though many did not accept any taxpayer assistance and most others already paid back their government infusions.
You don't limit profits in a free market economy.