One thing Obama may be doing right

Discussion in 'Current Events' started by RodISHI, Aug 22, 2009.

  1. RodISHI
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    RodISHI Gold Member

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    People must be protected against bad banks. The US Supreme Court ruled that states cannot sue bad national banks. I regret to inform them all that the people have every right to expect their states attorney generals to have the authority to sue for the protection of the citizens of the state they are in charge of. Both the people with their money in the bank and the people who makes payments to those banks. Since the Fed refuses to act within a responsible manner then the peoples representatives need too on their behalf. I have very little good to say about the legal guru's of Iowa but I do agree with their attorney general on this matter.


     
  2. The T
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    The T George S. Patton Party Supporting Member

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    Anytime the FED gets involved with Private banking matters is BAD NEWS for all concerned...And that speaks to the Creation of the Federal Reserve, which was warned against...by Jefferson, and others

    _____________________________

    But so many think the FED is a good thing...it isn't...

    Woodrow Wilson Screwed us...his legacy continues...

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    So Obama wants to Complicate it by creating another Fed Agecy to chomp on more taxpayers funds?? This cannot be good if Obama supports it...

    The Federal Government has No business in this. They've Fucked us taxpayers enough.
     
  3. garyd
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    garyd Senior Member

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    By all means. I'm sure the trial lawyers lobby thinks theya ren't making enough money yet.
     
  4. veritas
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    veritas OBKB

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    The FED and the Federal government are two entirely different entities. The FED is a quasi public entity. It has it's own officers, called Governors and they run our monetary system. They don't run our currency, the Treasury Dept. does that. So I find no reason to limit the Federal Gov't's ability to empower the states to force the FED to comply with the individual states' laws. If the FED wants to operate, they may do so at the states' pleasure and within their laws.
     
  5. editec
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    editec Mr. Forgot-it-All

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    Consumer protection?

    Please don't make me laugh.

    Allowing credit card companies to change rates after purchases have been made is about as anti-consumer as one can possible get.

    Imagine you purchased a car on credit at a rate of 6%.

    And then because the loan company was allowed, they could arbitrarily start charging you for the balanace at a rate of 21%

    Would you think that fair?

    No?

    Well that's what the credit card companies can legally do, isn't it?
     
  6. garyd
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    garyd Senior Member

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    Not any more.
     
  7. DavidS
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    DavidS Anti-Tea Party Member

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    And anytime the FED lets banks run wild they wind up screwing over the taxpayer and causing a massive recession that costs trillions of dollars.
     

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