Obama tries to screw up banking next

[LibocalypseNow]

So does he like or dislike Fannie Mae and Freddy Mac? Hmm?

 

[xsited1]

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

 

[MIPS]

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

Exactly the market dove right after the President opened his mouth about his new "plan" for banks since the equities market is smart enough to know that since the President's hopes of taking over the health care system were kaput that what remains of the free market would be his next target for destruction.

 

[Ame®icano]

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.

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?

 

[Xenophon]

And for everybody else, here's an interesting read:

Obama's Bank Plan Flops on Wall Street - BusinessWeek

'A fight he's ready to have'

Fucking idiot.

 

[MIPS]

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.

 

[hvactec]

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

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.

you can follow my post on general discussion The Recession" is Still On Track banks not lending

 

[Claudette]

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.

I tend to agree. I think this whole bank thing is OL'BO's way of trying to show the country that he "with us". The country is mightly pissed at Wall St and the bailouts and bonus's. Doesn't seem to matter that these banks have payed the loans back with interest and both Freddie and Frannie are still being covered with our tax dollars. BO figures he'll look like someone who gives a shit and now has our best interests at heart. Funny. All it took was his healthcare clusterfuck going down in flames to bring about the NEW BO.. Wonder if it will work for him???

 

[Maple]

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. What this economic moron does not seem to be aware of is that we people who have retirement plans, which are the majority of Americans, have them invested in 401k's and IRA's which are directly related to those , Fat- Cat Bankers and Wall Street. Attacking the Banks and Wall-street is NO WAY to make friends on MAIN-STREET, because it's OUR money he is ATTACKING.

It was government REGULATION that got us here in the first place with the COMMUNITY RE-INVESTMENT ACT- that held the gun to banks to do high-risk loans or be red-lined for growth and opportunities in other neighborhoods. Government started that whole ball a rollin and now they are doing it again.

 

[Maple]

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

He is going to be fighting the majority of Americans because their RETIREMENT PLANS are tied to big-banks and wall-street, when we Americans see our retirement savings go off a cliff and realize that he is behind it, he will be making no friends on MAIN-STREET. BTW- Liberals have retirement plans too.

 

[NYcarbineer]

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.

Obama has been president 1 year, the stock market is up 25 plus percent.

 

[saveliberty]

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.

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.

 

[RodISHI]

Go Obama GO! Gitt'er done!

 

[rightwinger]

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.

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

 

[saveliberty]

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

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.

 

[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...

The market tanked yesterday because they do NOT want to be regulated--at all. They might as well have collectively said "don't taz me, bro." The bigwigs want to continue to eat us alive and spit us out, forever, bowing at the altar of Wall Street. But guess what...the market rose again by afternoon once Barney Frank said that any new regulations probably wouldn't be effective for five years. So there was a collective sigh of relief.

The investment banks that control Wall Street have every intention of continuing their practice of stuffing themselves with profits, and when it all gets puked up again, they will once more look to the taxpayer to "save" them. What part of that kind of manipulation don't you get is WRONG!!!??

 

[MaggieMae]

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."

Any fees charged to those billion-dollar organizations will look like what's inside Grandma's Christmas money envelope to her 3-year old grandson.

 

[CMike]

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.

You don't limit profits in a free market economy.

 

[MaggieMae]

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.

Frankly, I think consumers would much prefer a hike on their administrative fee imposed by these investments banks, rather than having them take consumer's investments (cold, hard, cash) and spend it on fly-by-night risks. I also think you and others here are completely confusing INVESTMENT BANKS with small community lending banks which won't be affected at all by these potential regulations.

 

[The Rabbi]

You don't limit profits in a free market economy.

When has Obama ever acknowledged that we have a free market economy??

This is typical of Democrats. Banks are making good money at a time when many workers are out of work. The Democrats' solution is to tax the banks so their workers will be out of work too.
Some people have "cadillac" health care plans. The Democrats' solution is to tax them to make sure no one has such a health plan.
Republicans admire success. Democrats envy it.