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No one forced banks to lower standards. They did it because they were greedy.
They weren't "forced" but it most certainly was a quid pro quo. The banks and politicians went into a deal where the politicians would end regulations and in return the banks would do their social engineering for them.
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Government pressure my ass. They gave those loans willingly and happily.
Not without getting something in return.
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Thank you. It was greed that caused it, not government pressure.
Government co operation.
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Nope...the CRA and Barney Frank had nothing to do with it. The old "let's blame the brown people" excuse is bull.
The banks made those loans because they wanted to, and because they were greedy. Why is it so hard for you folks to assign proper blame?
You tell me. You are losing because you refuse to. Why wasn't a single banker prosecuted? Why was Lloyd Blankfein allowed to perjure himself in front of Congress with no repercussions?
You know the answers but your politics are more important.
if it was not for the US Government, a lot of the major financial Institutions would go bankrupt
About 70% OF the wealth held in this country is all due to the financial markets and the players owning the government
Obama has no less than 30 Goldman Sachs Bankers alone in his cabinet and Trump loaded up his with the same people
We need to break the partisan BS and get these people out of our government, they are destroying this country at the majority of American's expense
I worked for a successful company for years that did not trade stocks on Wall Street.
They got bought out by a larger corporation that does sell stocks on Wall Street and it has been downhill ever since.
The company is teetering on bankruptcy because they slashed and burned everything in site to make a buck for the top executives that make all their money on Wall Street
People need to realize who the enemy is
Much of our problem is because we have allowed Wall Street run our economy as opposed to the scientists, the engineers the job creators.
Things could be entirely different today if the left had only held Obama to the standard they are trying to hold Trump to. The problem is, Trump doesn't have to listen, Obama did.
Much of our problem is because we have allowed Wall Street run our economy as opposed to the scientists, the engineers the job creators.
Things could be entirely different today if the left had only held Obama to the standard they are trying to hold Trump to. The problem is, Trump doesn't have to listen, Obama did.
Lmao only on this website could people blame Obama still. Wake up, what you write isn't true. You know congress makes the laws, so understand that the GOP has controlled congress for most of this century.
Lmao only on this website could people blame Obama still. Wake up, what you write isn't true. You know congress makes the laws, so understand that the GOP has controlled congress for most of this century.
I was told that what I was saying wasn't true for years. It came true. Continue to hide your head in the sand and Trump is only going to get stronger.
Congress made D/F. Obama signed it. D/F hurt small banks and allowed big banks to grow even bigger. Is that what you say you support here? (I could do this all day but we will go with this one example).
I was told that what I was saying wasn't true for years. It came true. Continue to hide your head in the sand and Trump is only going to get stronger.
Congress made D/F. Obama signed it. D/F hurt small banks and allowed big banks to grow even bigger. Is that what you say you support here? (I could do this all day but we will go with this one example).
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No no no no.
I work in banking. Banks began consolidating in great numbers in the 1980s. I feel like your suggestioning that regional banks declined because of D/F? Firstly, you need to understand how small banks make money. They make money by loaning you out money and collecting interest on the repayments. Interest rates have been at historic lows for years. This beyond all else has hurt the profitability of small regional US Banks. Dodd Frank further exacerbated the fact that regional banks did not have the base they need and often were located in areas of economic decline or stagnation, so raising the capital and liquid assets needed to compete was and is difficult with such low interest rates. However as rates hopefully rise this year, small banks bottom lines will improve greatly because your mortgage interest payments might have crept up.
How can he justify it by saying that his friends who own businesses can't borrow money bc of it? Wtf? How is this reality?
Friends? What friends?
Joey No Socks? The mobbed-up felon whose organization exists to give Trump hospitality awards? The guy who gave Trump a hospitality award at Trump's NYE party? He's having trouble borrowing money?
Don King? The boxing promoter who swindled six boxers and one TV network out of millions, and killed a man in broad daylight? That Don King is having trouble borrowing money?
Other than Howard Stern, who hasn't complained about trouble getting loans and I'm sure he would if that was the case, these are the only people who admit to being friends with Trump.
There's a photo of Trump with the Clintons, but I doubt they were ever friends, certainly not now.
Trump has had problems borrowing money from American banks ever since he left them holding the bag nearly two decades ago for all those bankruptcies.
Perhaps he thinks that by removing the banking regulations so Wall Street can take another run at bankrupting the nation, they will look more kindly at his future loan applications.
But his claim to having friends who can't get loans due to burdensome regulations is bogus.
I work in banking. Banks began consolidating in great numbers in the 1980s. I feel like your suggestioning that regional banks declined because of D/F? Firstly, you need to understand how small banks make money. They make money by loaning you out money and collecting interest on the repayments. Interest rates have been at historic lows for years. This beyond all else has hurt the profitability of small regional US Banks. Dodd Frank further exacerbated the fact that regional banks did not have the base they need and often were located in areas of economic decline or stagnation, so raising the capital and liquid assets needed to compete was and is difficult with such low interest rates. However as rates hopefully rise this year, small banks bottom lines will improve greatly because your mortgage interest payments might have crept up.
D/F instituted regulations that were hard for small banks to meet. They got bought up by the big banks. This is hardly just my opinion.
Should the big banks have been broken up and not be allowed to benefit from too big to fail government insurance policies where they can get cheaper money than others to the tune of tens of billions of dollars every year (which of course hurts smaller banks with no too big to fail government insurance)? Of course.
Fact of the matter is that the huge mega banks are celebrating, their stocks skyrocketed on this news, as Goldman Sachs/Trump is steamrolling over the 99%.
Should the big banks have been broken up and not be allowed to benefit from too big to fail government insurance policies to the tune of tens of billions of dollars every year (which of course hurts smaller banks with no too big to fail government insurance)? Of course.
So end of story. If the right thing had been done from the beginning we would not be here. I've argued that for a long time.
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Fact of the matter is that the huge mega banks are celebrating, their stocks skyrocketed on this news, as Goldman Sachs/Trump is steamrolling over the 99%
Which wouldn't be happening if we had demanded the right thing be done years ago. For so many complaining they in the end are as much to blame as is anyone else.
Looks like Trump slept trough 2006 to early 2009 this is 2 top reason what caused the 2008 melt down and he wants to roll with it again
Exactly. Does this look like draining the swamp to you?
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