Obama tries to screw up banking next

[MaggieMae]

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...

Sure, whatever you say...

 

[MaggieMae]

Soggy in NOLA = pond scum. I have to put you on ignore because I'm afraid I'll catch something.

 

[hvactec]

As fare as the banks go I agree with Obama 100 percent
some of these banks are way to big.

Obama talking tough with banks - thestar.com

 

[CMike]

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.

http://www.foxnews.com/politics/2010/01/20/source-obama-seek-greater-banking-limits/?test=latestnews

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."

 

[blu]

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."

once again you show how foolish you are. loans to businesses and consumers aren't the risks they are talking about.

 

[Annie]

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."

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.

 

[CMike]

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.

 

[CMike]

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."

once again you show how foolish you are. loans to businesses and consumers aren't the risks they are talking about.

Yah. It is.

 

[Maple]

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.

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.

 

[Maple]

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."

once again you show how foolish you are. loans to businesses and consumers aren't the risks they are talking about.

Yah. It is.

I have heard over and over again how smart Obama is, but in all honesty I have never seen such a stupid, moronic President when it comes to the economy. Again today, jobless claims exceeded expectations by 30,000, they are on the rise again. The stimulus bull, all 787 billion dollars of it was nothing more than a liberal wish list that had been stuck in a drawer for 20 years, brought out and passed before anyone had a chance to read it. It's a total and complete failure.

Now attacking banks and wallstreet, threatening banks with more taxes. Does he not know that all taxes will be passed right back onto the consumer and that's us. He does not get it. I have never seen any President so inept and so lacking in economics and just plain common sense.

He is just going to dig himself a deeper and deeper hole.

 

[VaYank5150]

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?

 

[hvactec]

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.

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, it’s a fight I’m ready to have,” he said.

here is the link Obama talking tough with banks - thestar.com

 

[Annie]

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?

I wasn't 'OK' with bailing out any industry. There is no 'too big to fail.' That's been and remains my opinion.

Fannie, Freddie, and some others should have gone down. If done from the beginning wouldn't have lasted so long.

 

[CMike]

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.

 

[CMike]

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, it’s a fight I’m ready to have,” he said.

here is the link Obama talking tough with banks - thestar.com

If Obama would get out of the fucking way they would be serving their customers.

 

[VaYank5150]

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.

I certainly hope you are not referring to the money that these banks are NOT lending to the very people who bailed their sorry asses out?

 

[Xenophon]

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.

 

[blu]

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.

can we stop spending money on iraq and afghanstian or just the stuff you want?

 

[VaYank5150]

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.

Who is "we"? You got a mouse in your pocket?

 

[CMike]

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.

can we stop spending money on iraq and afghanstian or just the stuff you want?

Sure as long as Al Qaida promises not to do anything bad ever again