New Banking Crisis In The Works

[mudwhistle]

The next banking crisis is being orchestrated by the Obama White House.

Obama's new push is to punish banks...Goldman Sachs to start with.

Somebody explain how this helps job growth. Isn't that the biggest problem in the economy today? To many are ether collecting unemployment or simply giving up on trying to find a job. Everyone knows someone who lost a job in the last couple of years but Obama doesn't seem to care. He's focusing on health care....and having done that he's after banks now.

A funny thing has been happening. Big banks are getting bigger and small banks are closing their doors. Is Obama really for the little guy or is he just using Marxist rhetoric to cause one crisis after another to help his friends and takeover more and more of the private sector*. He did receive over $900k in campaign donations from Goldman Sachs.....why would he try to prosecute them in the headlines yet tell them behind the scenes that all of this "Fat-Cat" talk is gonna help them in the long run. That is what he's doing folks.

Financial Debate Renews Scrutiny on Banks’ Size

WASHINGTON — One question has vexed the Obama administration and Congress since the start of the financial crisis: how to prevent big bank bailouts.


In the last year and a half, the largest financial institutions have only grown bigger, *mainly as a result of government-brokered mergers.* They now enjoy borrowing at significantly lower rates than their smaller competitors, a result of the bond markets’ implicit assumption that the giant banks are “too big to fail.”
Breaking News and Opinion on The Huffington Post

 

[California Girl]

Cloward Piven anyone?

 

[Madeline]

mudwhistle, if Goldman Sachs did what it has been alleged they did, they deliberately uprated failing mortgage securities and pandered them to clients, causing losses in excess of $1 Billion. If pursuing wrong-doing on that scale is unwise, I'd love to hear your reasoning for this. In my view, if this occurred, several GS executives need to go to federal prison...civil judgments are not enough.

As for the size of banks, the mergers being complained of now occurred during the Bush administration or before. The three biggest -- Citigroup, Bank of America and J.P.Morgan -- were absorbing smaller institutions throughout the 1990's and beyond. Citigroup itself is a result of mergers between Citicorp and Travelers in 1998, under Clinton.

Obama does need to tackle the question of breaking up the megabanks, but it is not true that he designed them.

 

[Gatekeeper]

So far, 'King Obama' is playing all of us like a fine violin. Many of us suspect, and know, what his real agenda is, and yet he continues to tighten the noose around our American freedoms without restraint. Those of us who are concerned are labeled with derogatory names, and calling us a 'threat to society and government officials', what they really are afraid of, is a threat to their evil agendas and positions.

 

[GilbertArizona]

Given a choice between Obama's Maxist treatment of banks and Bush's financial bank bailout, personally I'll take the former.

 

[Madeline]

So far, 'King Obama' is playing all of us like a fine violin. Many of us suspect, and know, what his real agenda is, and yet he continues to tighten the noose around our American freedoms without restraint. Those of us who are concerned are labeled with derogatory names, and calling us a 'threat to society and government officials', what they really are afraid of, is a threat to their evil agendas and positions.

I'll bite. What is the 'real agenda" and how does prosecuting wrong-doers at Goldman Sachs fit into it?

 

[Oddball]

The "wrong-doers" at Goldman Sachs will never see the inside of a courtroom.

This is just more Kabuki theater from the Boyking empire.

You heard it here first.

Bookmark this post.

 

[Gatekeeper]

So far, 'King Obama' is playing all of us like a fine violin. Many of us suspect, and know, what his real agenda is, and yet he continues to tighten the noose around our American freedoms without restraint. Those of us who are concerned are labeled with derogatory names, and calling us a 'threat to society and government officials', what they really are afraid of, is a threat to their evil agendas and positions.

I'll bite. What is the 'real agenda" and how does prosecuting wrong-doers at Goldman Sacs fit into it?

Oh! Sorry, Obama does one thing right with regards to GS, after screwing this nation into the ground, and all is forgiven? I think NOT. And you ask, "What is the 'real agenda'? OMG, you really have no clue do you?

I am sure as heck not going into pages of dialog to explain that.

 

[California Girl]

Given a choice between Obama's Maxist treatment of banks and Bush's financial bank bailout, personally I'll take the former.

Ladies and gentlemen, that is how to address a situation with honesty. Don't pretend what Obama does is not socialist.... accept it and defend it... If you want a society based on 'social justice' great - be open and up front.

Personally, while I disagree with Gilbert, I respect his honesty.

 

[CrusaderFrank]

Emperor Bloomberg continues to plead with Obama and his Congressional Delegation not to kill the banking industry that is so vital to NYC!

Also, if derivatives trading becomes totally transparent on an open exchange, traders will no longer need Bloomberg machines.

 

[GilbertArizona]

Given a choice between Obama's Maxist treatment of banks and Bush's financial bank bailout, personally I'll take the former.

Ladies and gentlemen, that is how to address a situation with honesty. Don't pretend what Obama does is not socialist.... accept it and defend it... If you want a society based on 'social justice' great - be open and up front.

Personally, while I disagree with Gilbert, I respect his honesty.

Yeah, why defend it to people who either don't even understand what Marxism is in the first place or are simply using it as a label because they are unwilling to say specifically what they object to?

 

[mudwhistle]

Given a choice between Obama's Maxist treatment of banks and Bush's financial bank bailout, personally I'll take the former.

Ladies and gentlemen, that is how to address a situation with honesty. Don't pretend what Obama does is not socialist.... accept it and defend it... If you want a society based on 'social justice' great - be open and up front.

Personally, while I disagree with Gilbert, I respect his honesty.

Yeah, why defend it to people who either don't even understand what Marxism is in the first place or are simply using it as a label because they are unwilling to say specifically what they object to?

Wonder why you feel we can't be specific? Is is because you don't like facing the issue head-on?

To be specific....Obama is using Marxist rhetoric to gain access to each and every one of our bank accounts. This new bill contains regulations that will allow the federal government to spy on us by monitoring our bank accounts.

How's that for specifics?


And the worst part about it is every time somebody discovers what Obama and the Democrats are up to it's so ridiculously crazy that nobody will believe them when they expose it. So it happens with the help of useless idiots like yourself.

 

[mudwhistle]

I remember when they weren't in power the Dems were always mouthing off in the news about something.

It was always one attack after another.....which basically appeared like a constant deception campaign.

It was always "How Do We Fool Them Today"

Now it's "How Do We Fuck Them Today"

 

[Madeline]

mudwhistle wrote:

To be specific....Obama is using Marxist rhetoric to gain access to each and every one of our bank accounts. This new bill contains regulations that will allow the federal government to spy on us by monitoring our bank accounts.

How's that for specifics?

Between the Patriot Act, The various IRS laws, the Foreign Currency laws, various money-laundering and RICO statutes, etc......what the hell could the bank have left to tell the government about me that it doesn't already have access to??

Doesn't it seem even a little goofy to argue that Obama has ZERO real interest in avoiding another economic melt-down driven by GINORMOUS banks and instead is sneaking around to find out -- what exactly? that he couldn't have found out without this new law?

 

[Old Rocks]

Poor babies. There are going to be new rules in the banking and securities exchanges.

 

[KissMy]

So many sheeple & so little time. I have a busy weekend & have zero time to re-explain the Big Bank, Federal Reserve, GSEs & Government relationship. These are all tools to rob & decieve you. The government wanted this & pushed to cause it. Yes the governments plan is always to make corporations larger merging or wiping out the competition. This concentrates the power at the top so they can control everything. STUDY THE HISTORY OF SOCIALISM!!! Then look at how it was pulled off behind the sceens.

September 1999 - New York Times

Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.

Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic whites.

 

[MaggieMae]

So far, 'King Obama' is playing all of us like a fine violin. Many of us suspect, and know, what his real agenda is, and yet he continues to tighten the noose around our American freedoms without restraint. Those of us who are concerned are labeled with derogatory names, and calling us a 'threat to society and government officials', what they really are afraid of, is a threat to their evil agendas and positions.

Ooooh, what is that "real agenda."

 

[MaggieMae]

So far, 'King Obama' is playing all of us like a fine violin. Many of us suspect, and know, what his real agenda is, and yet he continues to tighten the noose around our American freedoms without restraint. Those of us who are concerned are labeled with derogatory names, and calling us a 'threat to society and government officials', what they really are afraid of, is a threat to their evil agendas and positions.

I'll bite. What is the 'real agenda" and how does prosecuting wrong-doers at Goldman Sacs fit into it?

Oh! Sorry, Obama does one thing right with regards to GS, after screwing this nation into the ground, and all is forgiven? I think NOT. And you ask, "What is the 'real agenda'? OMG, you really have no clue do you?

I am sure as heck not going into pages of dialog to explain that.

I disgree. I think it's high time all you people start explaining EXACTLY what you mean instead of just throwing out a right wing noise machine talking point and expecting it will stick as unforeseen evil approaching.

Have at it.

 

[boedicca]

The "wrong-doers" at Goldman Sachs will never see the inside of a courtroom.

This is just more Kabuki theater from the Boyking empire.

You heard it here first.

Bookmark this post.

The entire process has been very suspicious:

- No letter from the SEC notifying the company in advance.
- No attempt to negotiate a settlement.
- Release of info to press during market hours.

And then there's the bit about how GS has told the investment community that it will benefit from the regulation at the expense of competitors.

Yes. This is Kabuki Theater - with the one alteration that the 30 year old will be sacrificed to the The One.

 

[Dr Gregg]

Yes, Obama want's to destroy the banks

He wants to destroy the american economy, hence why he passed a stimulus packages to help companies keep their head above water during these hard economic times. Just so he can intentionally destroy them