Obama To Wall Street: "I Do Think At A Certain Point You've Made Enough Money"

Discussion in 'Stock Market' started by Nonelitist, Apr 29, 2010.

  1. Si modo
    Offline

    Si modo Diamond Member

    Joined:
    Sep 9, 2009
    Messages:
    44,101
    Thanks Received:
    6,724
    Trophy Points:
    1,830
    Location:
    Fairfax, Virginia
    Ratings:
    +11,642
    Yes, Obama has made it clear that his ideology is socialism.
     
  2. The T
    Offline

    The T George S. Patton Party Supporting Member

    Joined:
    May 24, 2009
    Messages:
    48,082
    Thanks Received:
    5,474
    Trophy Points:
    1,773
    Location:
    What USED TO BE A REPUBLIC RUN BY TYRANTS
    Ratings:
    +5,520

    I answer this again because what you added...and you're so correct. And nevermind that History would show them to be the fools that they are for the repeat performance and dragging the rest of us with them.
     
  3. The T
    Offline

    The T George S. Patton Party Supporting Member

    Joined:
    May 24, 2009
    Messages:
    48,082
    Thanks Received:
    5,474
    Trophy Points:
    1,773
    Location:
    What USED TO BE A REPUBLIC RUN BY TYRANTS
    Ratings:
    +5,520
    Exactly correct. His ideology is what drives him. His Ideology has bankrupted this Republic. He knows what needs to be done. But to do so would admit the failure of himself -AND- his ideology to boot.

    His arrogance, his pride, his narcissism won't allow it. He continues to blame others to compensate.
     
  4. rightwinger
    Online

    rightwinger Award Winning USMB Paid Messageboard Poster

    Joined:
    Aug 4, 2009
    Messages:
    188,020
    Thanks Received:
    27,379
    Trophy Points:
    2,190
    Ratings:
    +97,573
    Helping the wealthiest Americans= Capitalism at its finest

    Helping working Americans= Socialism
     
  5. Si modo
    Offline

    Si modo Diamond Member

    Joined:
    Sep 9, 2009
    Messages:
    44,101
    Thanks Received:
    6,724
    Trophy Points:
    1,830
    Location:
    Fairfax, Virginia
    Ratings:
    +11,642
    I don't play with strawmen.

    His desire to redistribute wealth is clear and a tenet of socialist ideology.
     
  6. boedicca
    Offline

    boedicca Uppity Water Nymph Supporting Member

    Joined:
    Feb 12, 2007
    Messages:
    54,322
    Thanks Received:
    15,777
    Trophy Points:
    2,250
    Location:
    The Land of Funk
    Ratings:
    +40,313

    Indeed.

    And it's important to understand to whom the redistribution is aimed: Public Employee Unions and other political cronies.

    Now he's targeting the 401Ks of private sector employees to bail out the underfunded pensions of unionized employees.
     
  7. SpidermanTuba
    Offline

    SpidermanTuba BANNED

    Joined:
    May 7, 2004
    Messages:
    6,101
    Thanks Received:
    258
    Trophy Points:
    0
    Location:
    New Orleans, Louisiana
    Ratings:
    +262

    There is no law requiring banks to make bad loans and sell them to investors as good loans, you are mistaken. If its the CRA you are thinking of, most of the bad loans that were made were made by institutions not bound by the CRA regulations. The large investment banks, for instance, are not covered under the CRA.

    Believe it or not, its not intrinsically risky to make loans to poor and minorities. No law ever required that banks make loans to the poor that were bigger then they could reasonably afford, nor did any law compel them to make loans to poor people with bad credit histories. But because the banks were able to package these shitty loans and sell them investors as grade A investments, they didn't give a fuck.

    What does this bill do? Does it not limit the size of investment banks?
     
    • Thank You! Thank You! x 1
  8. rightwinger
    Online

    rightwinger Award Winning USMB Paid Messageboard Poster

    Joined:
    Aug 4, 2009
    Messages:
    188,020
    Thanks Received:
    27,379
    Trophy Points:
    2,190
    Ratings:
    +97,573
    Strawman......prove it with facts not what you just heared on Rush Limbaugh
     
  9. boedicca
    Offline

    boedicca Uppity Water Nymph Supporting Member

    Joined:
    Feb 12, 2007
    Messages:
    54,322
    Thanks Received:
    15,777
    Trophy Points:
    2,250
    Location:
    The Land of Funk
    Ratings:
    +40,313


    Fannie Mae and Freddie Mac were required to have 55% of the loans they bought be for people who make less than the median income in the U.S.

    Banks were threatened with revocation or non-approval of bank charters if they didn't meet specific minority and low income loan quotas.

    So, you are wrong. As usual.
     
  10. SpidermanTuba
    Offline

    SpidermanTuba BANNED

    Joined:
    May 7, 2004
    Messages:
    6,101
    Thanks Received:
    258
    Trophy Points:
    0
    Location:
    New Orleans, Louisiana
    Ratings:
    +262
    Are you telling me any loan to a person making less than median income is a bad loan? Really?

    And if Fannie and Freddie were being forced to do such a thing against their will, tell me why it is that the investment banks did the exact same thing of their own free will?

    Please show me the law that said what percentage of these loans had to be made to people that could not afford them.
     

Share This Page