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I could stick my head in the sand like you do, if these were truly private firms using private money.... but they aren't.
Or, I could just go right to the source of the problem - the federal reserve - instead of attacking a few executives because they're easier to "attack" and they supposedly profited from a system created by the feds.
It's like you want me to vigorously attack an open sore that was caused by cancer. Even if I cure that open sore the root of the problem is still there.
But then again, it's not as "sexy" to attack a nebulous entity like the federal reserve. It's much more "acceptable" to vivify the evil fat cats, even if that's just a band aid.
Or, I could just go right to the source of the problem - the federal reserve - instead of attacking a few executives because they're easier to "attack" and they supposedly profited from a system created by the feds.
The federal reserve can only do what its enabling congressional legislation allows it to do, and that is: give money to banks.
The source of the problem is congress and its attitudes towards banking regulation.
Congress can maintain these lax attitudes about banking regulation because "joe sixpack", i.e. you and me, doesn't know and doesn't care how it works. This is why I don't agree with your attitude of, "not my problem."
The federal reserve can only do what its enabling congressional legislation allows it to do, and that is: give money to banks.
Ah, there you go... congress - not the ones getting the big buyouts from BOA.
Again, people - MARCH ON WASHINGTON. That's the root of the problem.
What I mean by "not my problem" is that I have nothing directly to do with BOA, so what happens there is not my problem. What is my concern and problem are the federal reserve and Congress. The pay to execs will self-correct by private measures if the latter are appropriately aligned.
Location: Some got six month some got one solid. But me and my buddies all got lifetime here
4,555 posts, read 10,406,733 times
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Quote:
Originally Posted by cletus awreetus-awrightus
the federal reserve can only do what its enabling congressional legislation allows it to do, and that is: Give money to banks.
The source of the problem is congress and its attitudes towards banking regulation.
Congress can maintain these lax attitudes about banking regulation because "joe sixpack", i.e. You and me, doesn't know and doesn't care how it works. This is why i don't agree with your attitude of, "not my problem."
the people who say, "It's not Wall Street's fault", don't seem to have any interest in these at-fault entities (Congress, the President, or anyone they vote for) actually regulating Wall Street.
Charlotte-based Bank of America will pay two former executives ousted in a management reorganization last month millions in severance. Sallie Krawcheck, who was president of wealth and investment management, will receive a $6 million. Joe Price, who was head of consumer and small-business banking, will get $5 million.
WFAE 90.7 FM - WFAE.com: local news features (http://www.wfae.org/wfae/1_87_115.cfm?action=display&id=7868 - broken link)
Ah, there you go... congress - not the ones getting the big buyouts from BOA.
Again, people - MARCH ON WASHINGTON. That's the root of the problem.
What I mean by "not my problem" is that I have nothing directly to do with BOA, so what happens there is not my problem. What is my concern and problem are the federal reserve and Congress. The pay to execs will self-correct by private measures if the latter are appropriately aligned.
They are marching in washington too... Wall St. and Congress are in bed together. I have no problem if people march on both.
I have this strange feeling if the march started in Washington you would tell them to go to the reserve or wall st. In my honest opinion I think you aren't a fan of those who are protesting so it really doesn't matter where they go...
Leave 'em along Cletus, the cheerleaders can't be bothered with facts. They'd rather make it about Obama.
I don't see it as Obama's fault; politicians of all parties.
Funny though that you talk about facts when repeatedly you simply use clip art to make your point.
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