Obama tries to screw up banking next

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.
 
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::cuckoo::cuckoo::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.


Geeze, puleeeeeeeze do some fucking homework for a change. This has been explained a gazillion times!!!! Even by FoxNews!!!!!!!!!
 
Socialism/Communism never works. Once you begin,you just keep sliding down that slippery slope. This President gave the Corporate Bankers Billions in Tax Dollars yet now he's pretending he's angry with them. Just looks like more disingenuous politics to me. I just can't buy the feigned outrage from this gang.
 
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.

CMike, to Democrats, profits are prima facie evidence of wrongdoing and exploitation. They see the economy as a zero sum game: if someone is making money it can only be at the expense of someone else. S o the money is ill-gotten by definition.
The scary thing is they actually believe this. They fail to see that profits fuel growth, hiring, R&D and overall prosperity. To Dums, it is just evidence that someone is getting screwed. The truth is of course the opposite.
 
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?

It's so fucking simple, the fact that they don't *get it* is truly frightening. The only possible explanation is that Big Business = Randian Ideology = Conservatism. So they must be against anything that threatens that.
 
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.

So here's another point, you all miss: The big investment banks are hardly "struggling" anymore. They DO have the money available to lend to small businesses, but they would prefer to play their little games with hedge funds and derivatives as long as they can still get away with it, rather than taking that money and lending it to smaller deposit banks. Joe the Plumber doesn't get his line of credit to run his business from Goldman-Sachs; he gets it from Podunk Community Bank on Main Street.
 
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.

Oh yeah, the usual weigh-in from the guy who spends most of his time in some community of avatars speaking for "all" of us as usual. :lol:
 
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

Number 5 ^ is a tall order, I'm afraid...
 
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.:cuckoo::cuckoo::cuckoo::cuckoo:

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.

What an imagination. Gas prices? Surely you jest. Why then were they all still in business in the summer of 07 when gas prices hit $4.00 a gallon?
 
Ame®icano;1929604 said:
Yeah, he's going after "fat-cats". Of course, he won't even mention tort reform...

What on earth does tort reform have to do with bundling bad mortgages? That is what caused our financial sector to tank. It happened because of a lack of regulations and honest oversight. You are an idiot.
 
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?

Try educating yourself. If you don't trust the Wikipedia entry for Federal Reserve, then go to one of their hundreds of links. The term "reserve" means just that. The fed doesn't actually go out and solicit "investments" from private industry. Big, BIG difference.

[The Federal Reserve] reserves to the banking system encourage lending at lower interest rates thus stimulating growth in money, credit, and the economy. Policy actions that absorb reserves work in the opposite direction. The Fed's task is to supply enough reserves to support an adequate amount of money and credit, avoiding the excesses that result in inflation and the shortages that stifle economic growth.[88]
 
People have been saying for a long time that Obama is trying to kill the country and I have just dismissed it as unreasonable hard core conservatives but I am starting to come around to this view point... There can really only be 2 conclusions from this...

1. He is intentionally trying to lead us into a depression

2. He is just a dumbass with no business sense.


Either one is dangerous for this country...

The only good thing to come of it is the huge Conservative movement you are seeing today...
 
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. :D

Why doesn't anyone ever pick on the FHA? Or the VA? (Not sure the VA even does home mortgages anymore.) But both of those are GOVERNMENT LENDING ORGANIZATIONS. F&F simply assumes more risk by lending to people who can't come up with huge down payments. (Actually, the VA made loans with no down payment at one time, so it too took big risks.)
 
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.
 
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.

Is he talking about limiting profits? No. What he IS talking about is using those PROFITS where they are supposed to be used, not investing in shit to the point they have no leverage and lose everything. By any other name, you can simply call it insurance. The same as the FDIC insures an individual's deposits, the investment banks need to insure that they're not going to take YOUR 401K investments and spend it on some nameless bundled "security."
 
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.

Why do you torture the MB with yo ugly puss?

Most of the bad paper was written in Bushes watch ya skank. I doubt if Frank, Dodd, Waters or even a retired Bill Clinton were a party to any bad loans.

Scarry Ugly..Scarry stupid. ...:eek:.....:eek:
 
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.

Right, first the wingnuts try to blame the Democrats for not regulating the banking system enough,

now they're going to oppose the Democrats trying to regulate the banking system.

How transparent can you people get?

jeezus
 
Most of the bad paper was written in Bushes watch ya skank

This shows what anbsolute tard you are. Of course they were... not the point. Go back and do some googleing (that means use Google to do a search) on Frank, Todd, Clinton, etc. and REDLINING.

Bush warned them, as the "watchdogs" of the insustry, repeatedly that a mess was coming.

Now go away cockhuggie.
 

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