Obama vs the Banks

[irwincur]

He's going to lose this one...

 

[lothar]

I hope he does.

The idea of charging banks to recoup investment loses made on AIG, GMAC, Chrysler, Freddie Mac and Fannie Mae is nothing short of foolishness.
The banks have paid more than their fair share and the taxpayer has made a profit on them.

 

[Zebo]

If he loses we all lose. But it's basically Lip service. And yes he should regulate and divide if not outright nationalize.. Banking is today largely going to top and speculation instead of production and main street. The nations money supply should be more distributed, in fact it's the only way we can recover since you will not open shop if none has money to spend.

 

[Vic]

I hope he does.

The idea of charging banks to recoup investment loses made on AIG, GMAC, Chrysler, Freddie Mac and Fannie Mae is nothing short of foolishness.
The banks have paid more than their fair share and the taxpayer has made a profit on them.

Don't do drugs, kids.

 

[Craig234]

Well, look at the bright side. Now that corporations can spoend unlimited funds getting pople elected, they'll no doubt get people who REALLY stand up to the banks.

And thank goodness, the financial industry, with only 41% of all profits in the nation lasty I checked, and bonuses in the tens, not hundreds, of billions, doesn't have enough money to have any election impact.

 

[DanDaManJC]

Well, look at the bright side. Now that corporations can spoend unlimited funds getting pople elected, they'll no doubt get people who REALLY stand up to the banks.

And thank goodness, the financial industry, with only 41% of all profits in the nation lasty I checked, and bonuses in the tens, not hundreds, of billions, doesn't have enough money to have any election impact.

Lies Craig!! all lieess!!

 

[Zorkorist]

He pumps a billion dollars in, and pumps it out. He's a Surgeon, I mean, Politician.

There's only one constant... Government.

Can you imagine that banks today are still showing profits, after making miserable loans?

Thank Bush/Obama.

Do you realize how neither have helped the people that made bad loan decisions?

I realize that helping the people that made bad loan decisions is hard... but don't fucking give money to the people that made the loans!

-John

 

[gingermeggs]

If he loses we all lose. But it's basically Lip service. And yes he should regulate and divide if not outright nationalize.. Banking is today largely going to "the top end and for speculative investors", instead of "real" production and main street. The nations money supply should be more distributed, in fact it's the only way we can recover since you will not open shop if none has money to spend.

You hit the nail on the head, mate! I amended your words a little in commas.
Its turned into a poker game. I have no faith in obamma anymore, hes the puppet I figured him to be from the start.
Bankers are wankers!

 

[StageLeft]

And thank goodness, the financial industry, with only 41% of all profits in the nation lasty I checked

Really? I know for damn sure they don't make up 41% of the economy--is it 10% or something? I could find out quickly I guess.

The idea of charging banks to recoup investment loses made on AIG, GMAC, Chrysler, Freddie Mac and Fannie Mae is nothing short of foolishness.
The banks have paid more than their fair share and the taxpayer has made a profit on them.

Apparently without for example the AIG bailout these banks would be in a much worse way and since the money can't come from AIG it can come from them. Don't shed a tear for those banks, don't you dare.

 

[WhipperSnapper]

He's going to lose this one...

I wonder. It seems like the electorate is pretty pissed off over the bailouts of the banks. Isn't that part of what motivates the Tea Party? I think the rank-and-file electorate probably wants the government to come down hard on the banks. Of course what will really happen is that the banks will find a way to take it out on our checking and savings accounts in one way or another.

 

[cubeless]

to borrow from rdjr in tropic thunder: bo is going 'full populist', and you should never go full populist... the polls have spoken and he's on a mission to grab the number one response like a pogo-sticking family feud contestant...

this is going to be sad and exhilarating to watch...

 

[LegendKiller]

While the banking system needs to change, he's going about it the wrong way.

 

[PJABBER]

to borrow from rdjr in tropic thunder: bo is going 'full populist', and you should never go full populist... the polls have spoken and he's on a mission to grab the number one response like a pogo-sticking family feud contestant...

this is going to be sad and exhilarating to watch...

Well said!

 

[gevorg]

Obama is putting his reputation on the line on this one. Beating Wall Street will be tougher than passing the Healthcare reform.

 

[spidey07]

Most banks repaid TARP funds with interest.

Obama - Where is our money/profit? Oh that's right, you think profit is evil. He tried this same crap is MA and look what it got him. Obama's war on banks will only infuriate the country more when they can't get loans.

But then again, he's destroying the economy willfully and purposefully.

 

[Dari]

It's really sad to see a 'centrist' suddenly pick up the populist mantle. Politicians really are professional liars.

 

[Hacp]

Most banks repaid TARP funds with interest.

Obama - Where is our money/profit? Oh that's right, you think profit is evil. He tried this same crap is MA and look what it got him. Obama's war on banks will only infuriate the country more when they can't get loans.

But then again, he's destroying the economy willfully and purposefully.

What about the AIG money that was funneled to Goldman Sachs? That wasn't repaid was it? What about all those intrest free loans? These banks took advantage of the taxpayers, now we need to claw back the losses.

 

[lothar]

Apparently without for example the AIG bailout these banks would be in a much worse way and since the money can't come from AIG it can come from them. Don't shed a tear for those banks, don't you dare.

I'm not really shedding tears for them.
What I hate is double speak from the Obama administration.

The pay czar was mandating a $500,000 salary cap on all bank executives that recieved "exceptional" assistance but yet the CEO's of Freddie Mac and Fannie Mae were allowed to be paid $5-6 million each. CEO of AIG? How much did he get? I'm pretty sure it's more than the cap.

What about AIG's massive compensation plan approved in March last year by the Obama administration and Timothy Geithner?

 

[jman19]

Most banks repaid TARP funds with interest.

Obama - Where is our money/profit? Oh that's right, you think profit is evil. He tried this same crap is MA and look what it got him. Obama's war on banks will only infuriate the country more when they can't get loans.

But then again, he's destroying the economy willfully and purposefully.

Uh why exactly would he do that?

 

[Craig234]

Uh why exactly would he do that?

He wouldn't. But the reason someone like Spidey would say he is is because if you can convince six year olds the president is out to destroy the country, they'll vote Republican, and they need a reason badly.

Same reason as during the campaign, when destroying the economy wouldn't work because the Republicans just did, he was a terrorist.

 

[wiretap]

lol, Obama vs. the banks? More like it's all a show. He's in collusion with the banks and has already given them billions upon billions upon billions upon billions..... you know where this is going, dollars. Hell, his appointments to key positions are bankers themselves.

 

[Hacp]

lol, Obama vs. the banks? More like it's all a show. He's in collusion with the banks and has already given them billions upon billions upon billions upon billions..... you know where this is going, dollars.

More like trillions. The fed increased its balance sheet by a few trillion to stabalize the banks. Don't forget the FDIC rescue of hundreds of banks, its reserve is almost all gone.

 

[wiretap]

Well yes, that's what I meant with 'you know where this is going'. Not to mention the $9T+ that went missing from the fed after he took office.

 

[Xellos2099]

Uh why exactly would he do that?

Cap and Trade anyone? It was a streaming pile of shit.

 

[lothar]

Well yes, that's what I meant with 'you know where this is going'. Not to mention the $9T+ that went missing from the fed after he took office.

Care to elaborate on this issue?