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Ame®icano;1929604 said:Yeah, he's going after "fat-cats". Of course, he won't even mention tort reform...
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.
BULLSHIT, pure BULLSHIT. Do you even understand what the "red-lining" meant? It was done by banks as their key to refuse to lend in particular areas. The CRA never, ever FORCED banks to do anything. It was established as a tool to analyze bank performance as to whether or not certain banks were indeed engaging in red-lining.
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.:cuckoo
You obviously understand zilch about what happened. It is BECAUSE the banks invested YOUR MONEY from your retirement funds in risky business that caused the crash. Those banks could not return 401k investments because they had already spent it somewhere else, and lost it.
Rabbi I agree I want all businesses to make as much profit as possible.
There is no benefit for anyone for businesses to make less profit.
The best thing he can do for this country is take a permanent vacation.
It's almost impossible to get credit now, guess Obama is going to keep it that way.
What a schmuck.
Stocks slide as Obama calls for tougher bank rules - Road Runner
Stocks slide as Obama calls for tougher bank rules
Published - Jan 21 2010 04:54PM EST
By STEPHEN BERNARD and TIM PARADIS - AP Business Writers
NEW YORK The stock market stumbled Thursday as President Barack Obama proposed an overhaul of the nation's banking system that could limit financial companies' ability to make huge profits on trading.
So let me get this straight.....you are OK with bailing out the banks with your tax dollars, and then allowing them to continue in the idiotic manner which brought them to their knees, which in turn forced Bush to bail them out? I don't get it?
The best thing he can do for this country is take a permanent vacation.
It's almost impossible to get credit now, guess Obama is going to keep it that way.
What a schmuck.
Stocks slide as Obama calls for tougher bank rules - Road Runner
Stocks slide as Obama calls for tougher bank rules
Published - Jan 21 2010 04:54PM EST
By STEPHEN BERNARD and TIM PARADIS - AP Business Writers
NEW YORK The stock market stumbled Thursday as President Barack Obama proposed an overhaul of the nation's banking system that could limit financial companies' ability to make huge profits on trading.
So let me get this straight.....you are OK with bailing out the banks with your tax dollars, and then allowing them to continue in the idiotic manner which brought them to their knees, which in turn forced Bush to bail them out? I don't get it?
As was already explained, banks were pressured to give mortgages to people who wouldn't normally qualify for one. Then when all these people couldn't pay the banks back, that caused a big problem.
However, I think it's really bad for the economy to basically stop banks from making almost all loans and mortgages. It is extremely hard to get a loan now.
Also if banks are struggelling what do you think is going to happen when Obama adds a nice fat tax that they have to pay? Will that help the economy? Who will ultimately pay for it?
Obama doesn't seem to understand that when he imposes these taxes he is taking real money away from real people.
For a man billed as intelligent Barry certainly is quite the moron.
Hey asshole, stop spending money, dump the socialism, start drilling and build nuke plants and shut the fuck up.
THAT is what we want.
Dickwad.
He gives Billions in Tax Dollars to the "Evil Banks" and now he's pretending he doesn't like em? Does anyone else see this Bull Chit for what it is? Who is he trying to convince with this chit? Yikes!
1) no he didn't
2) bush did
3) but he agreed with it
4) if he didn't you'd be a third world economy and Mexico and Canada would be putting up a wall to stop illegals
5) know your shit before spouting off
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.
Ame®icano;1929604 said:Yeah, he's going after "fat-cats". Of course, he won't even mention tort reform...
Ame®icano;1930416 said:Ame®icano;1929632 said: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.
Government planned, controlled and isntructed risky lending... And who is paying for that landing now? Did Obama cut their bonuses?
Federal Reserve is a private banking institution. How different are they from the others?
So does he like or dislike Fannie Mae and Freddy Mac? Hmm?
It's a love-hate type of relationship, don't bother trying to figure it out since you'd have to be a politician to understand.
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
Trotting out the talking points again ?!? Please explain how limiting the size and profits a bank can make helps the bank. Perhaps the justification will help you? Obama said we need to do this so he don't HAVE TO HELP the banks with a bailoutin the future.
Hey, cockhuggie.... why did the banks have all those bad mortgages in the first place? Can you say Bawny Fwank, Cwis Dod, Maxine Waters, Clinton, etc.????
You are the fucking idiot.
Hey, cockhuggie.... why did the banks have all those bad mortgages in the first place? Can you say Bawny Fwank, Cwis Dod, Maxine Waters, Clinton, etc.????
You are the fucking idiot.
Most of the bad paper was written in Bushes watch ya skank