Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Again, why are banks allowed to charge such high interest rates on Credit Cards, and why are banks allowed to add the crazy list of Fee's over and over and over. Yet, they are Using a Mass of Federal Money to support their gouging enterprise.
Top Contributors to Obama
Goldman Sachs $1,013,091
JPMorgan Chase & Co $808,799
Citigroup Inc $736,771
Time Warner $624,618
Morgan Stanley $512,232
Latham & Watkins $503,295
Top Contributors to Obama
Goldman Sachs $1,013,091
JPMorgan Chase & Co $808,799
Citigroup Inc $736,771
Time Warner $624,618
Morgan Stanley $512,232
Latham & Watkins $503,295
Elizabeth Warren is the only one willing and able to go after banks. She has already told them, the minute they push to open up Dodd/Frank, she will make the move to dismantle their collusive models and cast them back into the division of being either a bank or an investment firm, but, she is clear on the fact- should not be and if she gets the chance they can't and won't be both and she will make them increase their reserves and limit their games of risk taking in the investment arena of playing derivatives pyramid schemes and the massive games that hedge funds play upon and against the American Economy and its people.
Banks Hate Her, because she will stop their madness. She's been after them continually since they pushed that delusion of "Too Big to Fail" and then Gambling with Investor and Depositors Money and begging for a bail out, and turn around and awarded themselves bonuses and raises.
There is no one else who will go after them in the ways she will. But remember, President Obama tried to go after them, but the Republican Stopped it and would not allow the regulations and policy changes to go to the full extent that was proposed.
Thank good President Obama administration put in place the Stress Test and holds them to it, and force them to maintain the reserves so they don't go into another crap shoot of all or nothing. He also made them pay back the money. If all remember, Bush and Berneke wanted to give them the $750 billion with no questions and conditions. President Obama would not allow that craziness to go forth under his watch.
When we can get public financing, and it wouldbe great to set up a panel, where no lobbyist can talk directly to congressional people. Lobbyist should be required to meet with a public panel, and that is their only option. Then they won't be so quick to keep trying to buy political favor.
People must realize Banks have no regard for individuals or entities - They have an agenda not to serve the public, but to gouge the public at any and every opportunity, by any means available in their list of options.
No one can explain in a logical sense, how one can buy a 90,000 car on a fixed loan and pay it off in 5-6-7 yrs, but to get a $50,000 house in a run down neighborhood, it takes 30 yrs to pay for it. That is not even logical. The fact is, WE as people have simply come to 'ACCEPT" this kind of thing and in doing so, we make it standard habit and format. Then every month 3/4 or more of your payment goes to interest. by the time you pay off a 50K house, the bank has earned 150K interest.
It would be better if they allowed fixed rate low interest consumer loans via the government, the house would be paid off, and the rest of the years people would have a high volume of money for retirement savings.
It all has to change, because People are getting wiser, and the systems of such does not make sense to young people, and they have access to information and they will become financially educated enough to successfully challenge the madness.
The problem is that the Bankers want a free market market economy - except when it comes to the Federal Reserve Politburo, which is the Central Planning Committee of our economy. Just like any Politburo, the Central Committee ends up become fabulously wealthy as they work for the 'benefit" of the working people.
Both Elizabeth Warren and Bernie Sanders as well as Rand Paul have been very vocal about the new fashioned Politburo.
I'd be interested to find out exactly what percentage of 16 year olds looking for p/t work cannot find it. For "impossible" to be true I'd assume close to 100%, which I'm pretty skeptical of. Unfortunately the only BLS data I've seen for youth employment lumps 16 year olds right in with 16-24, and young people in their 20s usually represent something different than a 16 year old in terms of seeking employment.
Of the 23 million in the 16-24 workforce 695k are listed as unemployed seeking p/t work, and the unemployment rate as a whole for 16-24 was 12.2%.
The Brookings Institution just released a report on Wednesday on young adult employment, breaking the group out into 16-19 and 20-24. Key findings for ages 16-19, from 2000-2014:
Labor Force Participation decreased from 56% to 39%
Employment rate (total share of civilian non-institutionalized population with a job) decreased from 43% to 26%
Unemployment rate (share of Labor Force actively looking for a job but not finding one) increased from 11.9% to 17%
Median hourly wages in 2014 dollars decreased from $8.18/hour to $7.69/hour
The problem is that the Bankers want a free market market economy - except when it comes to the Federal Reserve Politburo, which is the Central Planning Committee of our economy. Just like any Politburo, the Central Committee ends up become fabulously wealthy as they work for the 'benefit" of the working people.
Both Elizabeth Warren and Bernie Sanders as well as Rand Paul have been very vocal about the new fashioned Politburo.
Well most of the big bankers want to take as much risk as possible to make more money, but don't want the risk when things go wrong.
Well most of the big bankers want to take as much risk as possible to make more money, but don't want the risk when things go wrong.
Yep. When you have the Central Planning Committee buying up any speculations that go wrong while leaving the Bankers all of the profits, it is about as close to Nirvana as a Banker can hope for. Of course, despite their billions in personal profits, they still have to charge working people 21% on credit card balances. I think it had something to do with "the free market economy."
This has been an interesting thread. I'll admit it I'm a noob when it come to this stuff. I was excited to hear rates were going up because I'm a saver and I am excited about the idea of finally earning more interest even as little as it was. I didn't realize all the nuances of it all. Fascinating stuff and thank you all for sharing!
This has been an interesting thread. I'll admit it I'm a noob when it come to this stuff. I was excited to hear rates were going up because I'm a saver and I am excited about the idea of finally earning more interest even as little as it was. I didn't realize all the nuances of it all. Fascinating stuff and thank you all for sharing!
I too am a saver. The Fed, with its Zero Interest Rate Policy, has been effectively levying a 100% tax on interest for sudden years at an estimated cost to savers of $300 - $400 billion dollars a year. This would be the amount of wealth being annually transferred to the wealthy class who get to borrow money for next to nothing for their own speculative machinations.
The only politicians who have been speaking out against this economic repression have been Rand Paul (and his father), Elizabeth Warren, and Bernie Sanders. The former head of the FDIC, Sheila Bair was also aghast at this bailout of the super-wealthy. Some economists are also vocal, but most are apologists since they have been bought off by a few bucks made on their stock market holdings.
It has been an all out east on prudent savers for seven years and it continues as the Fed forces people into Junk speculation to get any yield. The Junk bond market is now in very bad shape.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
