Stephanopoulos and Obama- Obama lacks a grasp of the facts(?) ...Or?

[CrusaderFrank]

Obama is about 1/2 complete on his "Destroy America" project

 

[CT9]

And there you have it, Obama is anti profit. Wants to limit what is "fair" for a business to earn. I've worked in the banking industry for 32 years and I can tell you the man has no fucking clue. Democratic government regulation limited the fees bank could charge comapnies for card transactions. So what did banks do? They sought to replace the lost revenue with a different revenue stream. It's what for profit buisnessses do when their profits drop. Profits are why they exist. I've read across the internet some comments people have made about being pissed that BoA is charging $5 per month. Seems they don't like the idea that they are being charged to access THEIR money. They are correct, it is their money. Id they don't like what the bank charges, take their money elsewhere. But here's the deal, if you think your little checking account that your paycheck goes into twice a month is what the bank is using for making loans, you're crazy. The average consumer checking account spends most of the money deposited each pay period. The bank offers checking accounts as a SERVICE. It is a service that typically is not profitable. That is why they charges fees. People have no idea of the volume of paper check and card transactions a bank deals with on a daily basis and the technology, hardware and software involved. It ain't cheap. So when you have your little checking account with an average balance of $200 in it, don't delude yourself into thinking that you are doing the bank a favor keeping your money there. They are doing you a favor by providing an expensive service to you for $5 per month. You can always cash your check and carry cash.

While I agree with your statements of Obama, your defense of the bank and banks in general makes me want to puke...

 

[Amelia]

How much cash do you want on you or in your house?

Do you have a safe? Is it fireproof?

 

[kwc57]

And there you have it, Obama is anti profit. Wants to limit what is "fair" for a business to earn. I've worked in the banking industry for 32 years and I can tell you the man has no fucking clue. Democratic government regulation limited the fees bank could charge comapnies for card transactions. So what did banks do? They sought to replace the lost revenue with a different revenue stream. It's what for profit buisnessses do when their profits drop. Profits are why they exist. I've read across the internet some comments people have made about being pissed that BoA is charging $5 per month. Seems they don't like the idea that they are being charged to access THEIR money. They are correct, it is their money. Id they don't like what the bank charges, take their money elsewhere. But here's the deal, if you think your little checking account that your paycheck goes into twice a month is what the bank is using for making loans, you're crazy. The average consumer checking account spends most of the money deposited each pay period. The bank offers checking accounts as a SERVICE. It is a service that typically is not profitable. That is why they charges fees. People have no idea of the volume of paper check and card transactions a bank deals with on a daily basis and the technology, hardware and software involved. It ain't cheap. So when you have your little checking account with an average balance of $200 in it, don't delude yourself into thinking that you are doing the bank a favor keeping your money there. They are doing you a favor by providing an expensive service to you for $5 per month. You can always cash your check and carry cash.

While I agree with your statements of Obama, your defense of the bank and banks in general makes me want to puke...

Even a child can understand the concept of a business selling a product or service and making a profit. Why is this difficult for you? Do you think a bank should offer you a service free of charge? How will they pay their utilitiy bills? How will the meet payroll for the tellers? How will they pay for the phone lines connecting the ATM's to the bank's network? When you write a check at Wal-mart, they deposit it at their bank. Their bank has people that sit at a machine called a proof machine and enter it by hand so it can be processed by a program. The check also goes thru a macine called a reader sorter that sorts out all the checks going to other banks. Couriers pick up all of these checks and transport them across town where they go thru the same process at your bank. That is a lot of handling, overhead and people your one little check goes thru. Why do you think your small checking account that you use to write that $9.47 check should be free? Because you deposit your $300 paycheck every two weeks and withdraw $250 of it in 2 or 3 days? How is the bank making money off of your money? There isn't enough left for them to "use" for other purposes. They provide a service to you to make it convenient to store your money rather than carry it all with you. Why shouldn't you pay for it? Tell me what other companies you think should give you free stuff? The grocery store? I mean damn it, you have to eat! How is it fair that a company should charge you for a basic necessity of life? Perhaps doctors should give you free heathcare. The least they can do is give you free samples of meds instead of making you have to spend your money.

Puke all you want. Banks are for profit businesses that provide services. Service you have to pay for. No one makes you use them. It is a choice. Don't like it, keep your money in your pocket or take it elsewhere.

If you can't understand this, you're an idiot.

Educate yourself. http://www.fool.com/investing/gener...merica-and-the-power-of-unintended-conse.aspx

 

[Meister]

And there you have it, Obama is anti profit. Wants to limit what is "fair" for a business to earn. I've worked in the banking industry for 32 years and I can tell you the man has no fucking clue. Democratic government regulation limited the fees bank could charge comapnies for card transactions. So what did banks do? They sought to replace the lost revenue with a different revenue stream. It's what for profit buisnessses do when their profits drop. Profits are why they exist. I've read across the internet some comments people have made about being pissed that BoA is charging $5 per month. Seems they don't like the idea that they are being charged to access THEIR money. They are correct, it is their money. Id they don't like what the bank charges, take their money elsewhere. But here's the deal, if you think your little checking account that your paycheck goes into twice a month is what the bank is using for making loans, you're crazy. The average consumer checking account spends most of the money deposited each pay period. The bank offers checking accounts as a SERVICE. It is a service that typically is not profitable. That is why they charges fees. People have no idea of the volume of paper check and card transactions a bank deals with on a daily basis and the technology, hardware and software involved. It ain't cheap. So when you have your little checking account with an average balance of $200 in it, don't delude yourself into thinking that you are doing the bank a favor keeping your money there. They are doing you a favor by providing an expensive service to you for $5 per month. You can always cash your check and carry cash.

While I agree with your statements of Obama, your defense of the bank and banks in general makes me want to puke...

Rolaids, take Rolaids

 

[Listening]

Where are the libs on this thread ?

I mean, our President (who I didn't vote for and wouldn't vote for) is getting whacked right and left and they sit by and whine about what ?

Or is this and admission of guilt ?

 

[Trajan]

I truely believe that Obama hasn't a clue on what the term "Cause and Effect" actually means.

thx Meister, I think that is exactly right.



he often speaks in terms of 'fairness', how folks are mistreated, how funds/goods/services need to 'distributed' or shared, it never occurs to him that a transfer to one, is a lack of that same benefit to another from which it is parted, he speaks of how the 'folks' are not given what they deserve, as if the contract we all implicitly engage in when we say use a specific bank, or swipe our cards knowing that we are paying a surcharge baked into the cake of the price we pay for an item includes the swipe charge, or an increase due to higher gas prices that go directly to gov. machinations and manipulation of tax codes, artificial scarcity they themselves create, which he never seems to get, in that gov. is never guilty of the very same he charges private industry with, because they gov., are the 'good' guys.

It speaks to a huge disconnect. He has no frame of reference at all.

I ran across this quote today, written by Herbert Croly a key figure in the progressive movement; in "The Promise of American Life" (1909);

"the average American individual is morally and intellectually inadequate to a serious and consistent conception of his responsibilities."

 

[The T]

Where are the libs on this thread ?

I mean, our President (who I didn't vote for and wouldn't vote for) is getting whacked right and left and they sit by and whine about what ?

Or is this and admission of guilt ?

They live in a universe of guilt.

 

[CT9]

And there you have it, Obama is anti profit. Wants to limit what is "fair" for a business to earn. I've worked in the banking industry for 32 years and I can tell you the man has no fucking clue. Democratic government regulation limited the fees bank could charge comapnies for card transactions. So what did banks do? They sought to replace the lost revenue with a different revenue stream. It's what for profit buisnessses do when their profits drop. Profits are why they exist. I've read across the internet some comments people have made about being pissed that BoA is charging $5 per month. Seems they don't like the idea that they are being charged to access THEIR money. They are correct, it is their money. Id they don't like what the bank charges, take their money elsewhere. But here's the deal, if you think your little checking account that your paycheck goes into twice a month is what the bank is using for making loans, you're crazy. The average consumer checking account spends most of the money deposited each pay period. The bank offers checking accounts as a SERVICE. It is a service that typically is not profitable. That is why they charges fees. People have no idea of the volume of paper check and card transactions a bank deals with on a daily basis and the technology, hardware and software involved. It ain't cheap. So when you have your little checking account with an average balance of $200 in it, don't delude yourself into thinking that you are doing the bank a favor keeping your money there. They are doing you a favor by providing an expensive service to you for $5 per month. You can always cash your check and carry cash.

While I agree with your statements of Obama, your defense of the bank and banks in general makes me want to puke...

Even a child can understand the concept of a business selling a product or service and making a profit. Why is this difficult for you? Do you think a bank should offer you a service free of charge? How will they pay their utilitiy bills? How will the meet payroll for the tellers? How will they pay for the phone lines connecting the ATM's to the bank's network? When you write a check at Wal-mart, they deposit it at their bank. Their bank has people that sit at a machine called a proof machine and enter it by hand so it can be processed by a program. The check also goes thru a macine called a reader sorter that sorts out all the checks going to other banks. Couriers pick up all of these checks and transport them across town where they go thru the same process at your bank. That is a lot of handling, overhead and people your one little check goes thru. Why do you think your small checking account that you use to write that $9.47 check should be free? Because you deposit your $300 paycheck every two weeks and withdraw $250 of it in 2 or 3 days? How is the bank making money off of your money? There isn't enough left for them to "use" for other purposes. They provide a service to you to make it convenient to store your money rather than carry it all with you. Why shouldn't you pay for it? Tell me what other companies you think should give you free stuff? The grocery store? I mean damn it, you have to eat! How is it fair that a company should charge you for a basic necessity of life? Perhaps doctors should give you free heathcare. The least they can do is give you free samples of meds instead of making you have to spend your money.

Puke all you want. Banks are for profit businesses that provide services. Service you have to pay for. No one makes you use them. It is a choice. Don't like it, keep your money in your pocket or take it elsewhere.

If you can't understand this, you're an idiot.

Educate yourself. Bank of America and the Power of Unintended Consequences (BAC, C, JPM, MA, STI, V, WFC)

I have no problems with profiits you moron... what part of my post said that. Thats why agreed with you on Obama, but its how you reach those profits. I we would of let you assholes fail for giving out loans people couldn't afford and then selling them as an investment to people. You guys fuck people everywhere and go fuck yourself if you can't see that, all you do is engage in speculation and build bubbles. Our federal reserve is so lenient and bends over backwards for you assholes and you don't seem to understand that all you want is more more more. That's why people can't stand banks...

I have free checking because I refuse to settle like that dumb ass Amelia if she's trying to get at me with those dumb statements and greedy people like you

I cant stop you from making profits, and I have no problem with profits, but the recognition of greed and abuse can be seen simultaneously. It's not like if I call you greedy I'm against profits. Do you lack that much mental flexibility? If so it would explain a lot about this country, left and right.

 

[Amelia]

I still can't help wondering how the nation could possibly have known so little about a guy who liked to talk so much.

How did his handlers keep the lid on him long enough to keep him from embarrassing himself before they got him into the White House?

I'm mystified.

 

[kwc57]

While I agree with your statements of Obama, your defense of the bank and banks in general makes me want to puke...

Even a child can understand the concept of a business selling a product or service and making a profit. Why is this difficult for you? Do you think a bank should offer you a service free of charge? How will they pay their utilitiy bills? How will the meet payroll for the tellers? How will they pay for the phone lines connecting the ATM's to the bank's network? When you write a check at Wal-mart, they deposit it at their bank. Their bank has people that sit at a machine called a proof machine and enter it by hand so it can be processed by a program. The check also goes thru a macine called a reader sorter that sorts out all the checks going to other banks. Couriers pick up all of these checks and transport them across town where they go thru the same process at your bank. That is a lot of handling, overhead and people your one little check goes thru. Why do you think your small checking account that you use to write that $9.47 check should be free? Because you deposit your $300 paycheck every two weeks and withdraw $250 of it in 2 or 3 days? How is the bank making money off of your money? There isn't enough left for them to "use" for other purposes. They provide a service to you to make it convenient to store your money rather than carry it all with you. Why shouldn't you pay for it? Tell me what other companies you think should give you free stuff? The grocery store? I mean damn it, you have to eat! How is it fair that a company should charge you for a basic necessity of life? Perhaps doctors should give you free heathcare. The least they can do is give you free samples of meds instead of making you have to spend your money.

Puke all you want. Banks are for profit businesses that provide services. Service you have to pay for. No one makes you use them. It is a choice. Don't like it, keep your money in your pocket or take it elsewhere.

If you can't understand this, you're an idiot.

Educate yourself. Bank of America and the Power of Unintended Consequences (BAC, C, JPM, MA, STI, V, WFC)

I have no problems with profiits you moron... what part of my post said that. Thats why agreed with you on Obama, but its how you reach those profits. I we would of let you assholes fail for giving out loans people couldn't afford and then selling them as an investment to people. You guys fuck people everywhere and go fuck yourself if you can't see that, all you do is engage in speculation and build bubbles. Our federal reserve is so lenient and bends over backwards for you assholes and you don't seem to understand that all you want is more more more. That's why people can't stand banks...

I have free checking because I refuse to settle like that dumb ass Amelia if she's trying to get at me with those dumb statements and greedy people like you

I cant stop you from making profits, and I have no problem with profits, but the recognition of greed and abuse can be seen simultaneously. It's not like if I call you greedy I'm against profits. Do you lack that much mental flexibility? If so it would explain a lot about this country, left and right.

Your buying into the liberal politician and liberal media's scapegoat son. You need to educate yourself. Is Apple greedy? Microsoft? How about Ford or GM? You lump me in with the BoA's and other mega-banks that are into all sorts of different financial instruments and paint us all with the same broad brush. Banks = greed = bad. Grow the fuck up pee wee. I'm under contract to a large bank that has 80+ branchs in a single state. Just like BoA and some of the other large national banks, they charge for their services. It isn't greed jackwagon, it's called business and the purpose of a business is profit. Banking is one of the most heavily regulated businesses in the country. Even smaller banks have compliance departments who make sue the bank is dotting the I's and crossing the T's to stay within governmental compliance. Why? Because government auditors can and do show up on your doorstep unannounced and move in for a month or so to pour thru your records. Screw up and you pay big fines.

When government regulations restrict your profit, you have no choice but to find other ways to maintain the cash flow needed to continue operating your bank and provide the same level of products and services you've been providing. You didn't read the article I linked did you? Once again, go educate yourself. The reason banks are starting to charge you for using your card is because well meaning Democrats decided that banks were "making to much" in fees to the retailers that accept card transactions. I guess the banks could just say, "oh well, we greedy sons of bitches can do without the "excess" and continue providing card processing for nothing". Not! They had to find a way to fund the overhead of card processing and continue making a profit.

This "issue" is a totally different division of the banking industry than the mortgage side where bad loans were made......which by the way were made at the insistance of the government who said they would gaurantee them. The government has generated the majority of problems in banking and the economy and they and their media lapdogs are trying to draw attention away from themself and making the evil, greedy banks the boogey man.....and you're falling for it.

Bottom line, don't take out a loan you can't possibly repay. If you don't like the fees and charges of a bank, shop around until you find one you can accept. By law, they have disclosure regulations where they have to tell you what they charge so you can comparison shop one bank against another. If you can't find one, you are welcome to bury your money in a jar in your backyard or stuff it in a mattress.

You say you have no problem with profit, but you call banks greedy for making one. Piss off. Here's a little more reading for you that explains how the goverment regulations caused the mortgage crisis. Community Reinvestment Act - Overview of the Community Reinvestment Act

 

[LordBrownTrout]

He doesn't understand basic economics...or for that matter any subject matter to a mediocre degree. He can articulate well from his teleprompter but that's it. He just really doesn't know much.

 

[Claudette]

And there you have it, Obama is anti profit. Wants to limit what is "fair" for a business to earn. I've worked in the banking industry for 32 years and I can tell you the man has no fucking clue. Democratic government regulation limited the fees bank could charge comapnies for card transactions. So what did banks do? They sought to replace the lost revenue with a different revenue stream. It's what for profit buisnessses do when their profits drop. Profits are why they exist. I've read across the internet some comments people have made about being pissed that BoA is charging $5 per month. Seems they don't like the idea that they are being charged to access THEIR money. They are correct, it is their money. Id they don't like what the bank charges, take their money elsewhere. But here's the deal, if you think your little checking account that your paycheck goes into twice a month is what the bank is using for making loans, you're crazy. The average consumer checking account spends most of the money deposited each pay period. The bank offers checking accounts as a SERVICE. It is a service that typically is not profitable. That is why they charges fees. People have no idea of the volume of paper check and card transactions a bank deals with on a daily basis and the technology, hardware and software involved. It ain't cheap. So when you have your little checking account with an average balance of $200 in it, don't delude yourself into thinking that you are doing the bank a favor keeping your money there. They are doing you a favor by providing an expensive service to you for $5 per month. You can always cash your check and carry cash.

Thanks for your post there kw.

Must say I never looked at it in that light before.

I bank with Wells Fargo and have a checking/debit account only so they don't make money on me.

They are going to be charging a 3 dollar a month fee. I think all the banks will be doing that before long.

 

[Claudette]

He doesn't understand basic economics...or for that matter any subject matter to a mediocre degree. He can articulate well from his teleprompter but that's it. He just really doesn't know much.

Your right on that one Lord.

The only thing he seems to know is that he wants to change America. You knw. Social Justice. Spread the wealth. All that bullshit.

That ain't workin out to well for him.

 

[kwc57]

And there you have it, Obama is anti profit. Wants to limit what is "fair" for a business to earn. I've worked in the banking industry for 32 years and I can tell you the man has no fucking clue. Democratic government regulation limited the fees bank could charge comapnies for card transactions. So what did banks do? They sought to replace the lost revenue with a different revenue stream. It's what for profit buisnessses do when their profits drop. Profits are why they exist. I've read across the internet some comments people have made about being pissed that BoA is charging $5 per month. Seems they don't like the idea that they are being charged to access THEIR money. They are correct, it is their money. Id they don't like what the bank charges, take their money elsewhere. But here's the deal, if you think your little checking account that your paycheck goes into twice a month is what the bank is using for making loans, you're crazy. The average consumer checking account spends most of the money deposited each pay period. The bank offers checking accounts as a SERVICE. It is a service that typically is not profitable. That is why they charges fees. People have no idea of the volume of paper check and card transactions a bank deals with on a daily basis and the technology, hardware and software involved. It ain't cheap. So when you have your little checking account with an average balance of $200 in it, don't delude yourself into thinking that you are doing the bank a favor keeping your money there. They are doing you a favor by providing an expensive service to you for $5 per month. You can always cash your check and carry cash.

Thanks for your post there kw.

Must say I never looked at it in that light before.

I bank with Wells Fargo and have a checking/debit account only so they don't make money on me.

They are going to be charging a 3 dollar a month fee. I think all the banks will be doing that before long.

Indeed they will. People typically understand the business they work in and don't have any idea what goes on behind the scenes in other businesses. Take a typical fast food place. All of that oil they fry stuff in, what happens to it? You can't just keep using it and add more as it disappears. It gets dumped in a storage container and the restaurant pays another company to come and drain the tank. People just have no idea of the overhead that the businesses they frequent all the time have. Part of the cost of your burger and fires is to pay that overhead in addition to turning a profit. As I said in my first post, I've worked in the banking industry for 32 years. I'm in the IT/data processing side where we provide software/hardware/services to banks. Our software constantly has to be upgraded to keep up with government regulations. People have no idea what happens in the background when the bank closes for the day and what the expense is for them to provide the services they do. If a regulation cuts their revenue, you damn betcha they will find another way to replace it. They have to to stay in business.

 

[Claudette]

I still can't help wondering how the nation could possibly have known so little about a guy who liked to talk so much.

How did his handlers keep the lid on him long enough to keep him from embarrassing himself before they got him into the White House?

I'm mystified.

Well Amelia. I think the people were just sick and tired of the Reps.

Being sick and tired of the Reps they went and voted for the shyster, errr smooth talker this that round.

We can all see how thats workin out.

 

[Si modo]

I still can't help wondering how the nation could possibly have known so little about a guy who liked to talk so much.

How did his handlers keep the lid on him long enough to keep him from embarrassing himself before they got him into the White House?

I'm mystified.

Well Amelia. I think the people were just sick and tired of the Reps.

Being sick and tired of the Reps they went and voted for the shyster, errr smooth talker this time round.

We can all see how thats workin out.

Well, he doesn't seem like such a smooth talker (unless TOTUS is with him, which makes him a better parrot) here, and at other times.

I know freshman Communications 101 students who can do a better job at delivery than he can.

 

[Claudette]

I still can't help wondering how the nation could possibly have known so little about a guy who liked to talk so much.

How did his handlers keep the lid on him long enough to keep him from embarrassing himself before they got him into the White House?

I'm mystified.

Well Amelia. I think the people were just sick and tired of the Reps.

Being sick and tired of the Reps they went and voted for the shyster, errr smooth talker this time round.

We can all see how thats workin out.

Well, he doesn't seem like such a smooth talker (unless TOTUS is with him, which makes him a better parrot) here, and at other times.

I know freshman Communications 101 students who can do a better job at delivery than he can.

Yeah. But ya gotta admit Si that back in 2008 his campaign speeches were pretty darned good.

He had no record then. Easy to defend no record and way easy to make a super speech when you can project what your gonna do if elected.

Razzle dazzle was in play big time. Now me. I can smell a bs artist at 100 feet but loads of other bought into that razzle dazzle.

Not so easy today. He has a record. Sucky but there and not all that easy to defend. The Ol'Razzle Dazzle ain't gonna cut it this time.

 

[Si modo]

Well Amelia. I think the people were just sick and tired of the Reps.

Being sick and tired of the Reps they went and voted for the shyster, errr smooth talker this time round.

We can all see how thats workin out.

Well, he doesn't seem like such a smooth talker (unless TOTUS is with him, which makes him a better parrot) here, and at other times.

I know freshman Communications 101 students who can do a better job at delivery than he can.

Yeah. But ya gotta admit Si that back in 2008 his campaign speeches were pretty darned good.

He had no record then. Easy to defend no record and way easy to make a super speech when you can project what your gonna do if elected.

Razzle dazzle was in play big time. Now me. I can smell a bs artist at 100 feet but loads of other bought into that razzle dazzle.

Not so easy today. He has a record. Sucky but there and not all that easy to defend. The Ol'Razzle Dazzle ain't gonna cut it this time.

Yes, they were pretty good, like horoscopes are pretty good - nothing specific but they know what to say to make an impression.

He had bullshitting down to an art form. Or, giving him the benefit of the doubt - he actually believed in what he was saying. Unfortunately, he had no experience to know most of what he said was not in line with reality. Pragmatism did not factor into much of what he said at that time.

Now (unfortunately because he is in office), he knows more facts and he can't sell himself on his own bullshit, now. That shows through, clear as a bell.