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What a complete waste of NYPD manpower- I think they've lost clear objective of why they are even there and they're now turning it into a rally against police brutality ... What you don't see/hear are those idiots provoking, instigating, and egging on the cops. Pathetic.
what mess did the companies get themselves into? they gave loands, were protected by the government, when things went south, the government came through with their guarantee. the big banks have paid back the money they were loaned through TARP.
i dont support the idea of the government's guarantee because that created a situation where banks could make money without the risk. banks shouldnt have loaned those people the money to begin with. but thats not the banks fault, they were protected.
The banks were not protected when they made these loans. They were not protected when they bundled them into CDO's and sold them. The government did bail them out, whether rightly or wrongly, because they believed that with credit markets frozen, if they had not, we would be in a depression right now. How you can let the banks off the hook for their part in this debacle is beyond me.
What scares me is that these banks are now larger than ever. The Republicans want to do away with regulation - unfortunately they now know they are too big to fail- so what stops them from doing something as reckless all over again. To believe that no regulation is necessary is beyond belief to me.
The banks were not protected when they made these loans. They were not protected when they bundled them into CDO's and sold them. The government did bail them out, whether rightly or wrongly, because they believed that with credit markets frozen, if they had not, we would be in a depression right now. How you can let the banks off the hook for their part in this debacle is beyond me.
What scares me is that these banks are now larger than ever. The Republicans want to do away with regulation - unfortunately they now know they are too big to fail- so what stops them from doing something as reckless all over again. To believe that no regulation is necessary is beyond belief to me.
i dont understand how the people can tell me that there was no guarantee and then tell me in the next sentence that the government bailed them out. i understand you put down a reason why they had to bail them out, but government lies. what matters is the actions.
republicans dont want to do away with regulation. but adding more regulation doesnt make things better, it has to be regulation that makes sense.
I'll agree. There were alot of people who packaged these loans knowing the buyers couldn't afford them, but didn't care because they were making money.
The real issue is that the banks could lend the money and then sell off the loan. Garbage in... garbage out, and the originating bank stays clean. Anyone who has gotten a mortgage knows that they get a letter within a month saying "Bank A has sold your loan to "Bank B."
The banks should have to hold onto the loan for a period of time to prevent them from passing the garbage down the pipe.
The worst part is that the rules have not changed.
The government did bail them out, whether rightly or wrongly, because they believed that with credit markets frozen, if they had not, we would be in a depression right now. How you can let the banks off the hook for their part in this debacle is beyond me.
The bailout wasn't the issue as much as the fact that the money was given to the bank with no strings or regulations attached.... Imagine if you lent your friend $100K to save their house and they posted pics of their family at Disney the following week.... The money was not intended for bonuses, it was intended to save the banks and keep the loan money flowing. Instead of lending money, the banks hoarded the cash and bulked themselves up and paid exec HUGE bonuses with OUR money. THAT is the problem.
The real issue is that the banks could lend the money and then sell off the loan. Garbage in... garbage out, and the originating bank stays clean. Anyone who has gotten a mortgage knows that they get a letter within a month saying "Bank A has sold your loan to "Bank B."
The banks should have to hold onto the loan for a period of time to prevent them from passing the garbage down the pipe.
The worst part is that the rules have not changed.
thats why you need smart regulation, not just more regulation. why was bank B willing to hold onto these bad loans? i dont necessarily think they should have to hold onto it if there is a willing buyer, but if its a risky investment it should be treated as such.
what mess did the companies get themselves into? they gave loands, were protected by the government, when things went south, the government came through with their guarantee. the big banks have paid back the money they were loaned through TARP.
i dont support the idea of the government's guarantee because that created a situation where banks could make money without the risk. banks shouldnt have loaned those people the money to begin with. but thats not the banks fault, they were protected.
they gave loans and assumed they would be protected by the government. they grew too large because of reduced regulation. the government sissied out, and did what the businesses took a risk assuming that the government would bail them out. with the massive contributions they make to elected officials, it was all but assured to happen. that's exactly what's wrong with the entire process.
there was no stated guarantee though. the banks made a calculated risk and won, even when they had appeared to have lost.
I do not want these services. I want lower taxes. I want less or no regulation in most areas of life. I do not want any form of government health care. I do not want social security, I'll take care of it myself. I do not want redistribution of wealth in any way, shape, or form. It is not a crime to be competent. And it should not be penalized.
There are no classes. Only individuals. And the individuals "protesting" on Wall St are simply misguided and looking for answers in the wrong place. The correct place? Look inward and figure out how to solve your individual problem. Do not go to Wall St demanding new forms of statism and new forms of collectivism. Collectivist tyranny got us into this mess in the first place. The only way out is removal of government from all the roles it has no business fulfilling, and a return to emphasis on the rights and responsibilities of the individual.
Lower taxes. Less regulation. Individuals thinking for themselves and solving their own problems.
You want to protest? Protest your own incompetence. And do something to change it that does not involve sacrificing your fellow man.
and I do not want a requirement for realtors to be licensed. Thoughts on that one?
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