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No doubt we need regulations to rein in unethical behavior
I wonder what those against regulations would say if we did away with all police departments and laws?
LOL, not fair as I've almost went there in the past. Without laws that treat all fairly I do support things falling apart.
Quote:
The laws are regulations as well used to regulate the behavior of the citizens of this country.
Lets do away with those as well for those against regulations and see how that goes.
Of course they were forced. They had to carry a certain percentage of loans on their books. Why are you in a conversation when you are obviously ignorant on the subject? rhetorical
There was no force imposed
ANYTIME something is done to hurt the bankers, they pile into Washington DC to put a stop to it.
Remember when derivatives were going to be regulated started by Brooksly Born?
The cockroaches from Wall Street piled into Summers office and put a stop to it and that was the end of that
Where were these bankers piling into Washington DC Offices when the CRA was formed or many of these other things?
They were nowhere to be found because they stood to make a lot of money off it
You can't tell me that bankers do not run Washington DC when there are 10 banking lobbyists for everyone politician on the outside and former bankers by the hundreds on the inside
It must suck being a Trump supporter. He creates all kinds of EOs and his minions go through all the trouble finding ways to defend and justify them, and then the next day he cancels, or changes the EO, leaving the loyalists looking like idiots.
sigh... from my post which you left out in your reply.
"The law imposes on the covered depositories an affirmative duty to lend throughout the areas from which they take deposits, including poor neighborhoods. The law has teeth because regulators' ratings of banks' CRA performance become public and inform important decisions, notably merger approvals."
Quote:
Originally Posted by J746NEW
ANYTIME something is done to hurt the bankers, they pile into Washington DC to put a stop to it.
Remember when derivatives were going to be regulated started by Brooksly Born?
The cockroaches from Wall Street piled into Summers office and put a stop to it and that was the end of that
Where were these bankers piling into Washington DC Offices when the CRA was formed or many of these other things?
They were nowhere to be found because they stood to make a lot of money off it
You can't tell me that bankers do not run Washington DC when there are 10 banking lobbyists for everyone politician on the outside and former bankers by the hundreds on the inside
These filth control our government
Agree they control government. Without the bills and laws that enforce the bankers hold over we the people, they wouldn't have that power. That's the entire point. Get government out of the economy business. They don't have a very good track record now do they?
sigh... from my post which you left out in your reply.
"The law imposes on the covered depositories an affirmative duty to lend throughout the areas from which they take deposits, including poor neighborhoods. The law has teeth because regulators' ratings of banks' CRA performance become public and inform important decisions, notably merger approvals."
Agree they control government. Without the bills and laws that enforce the bankers hold over we the people, they wouldn't have that power. That's the entire point. Get government out of the economy business. They don't have a very good track record now do they?
Who is the government though?
It is not We the People
It is we the Bankers
Majority of politicians and lobbyists are from the finance industry
I do not see a dividing line between government and finance industry, it does not exist
Location: Sitting on a bar stool. Guinness in hand.
4,428 posts, read 6,509,244 times
Reputation: 1721
So since trump has decided to revisit the Dodd-Frank law. And since changes are going to happen to the legislation irrespectively.....(I believe anyways). I'd like to ask.
1. With the tool of legislation in mind. What do need to protect our economy/markets and it's comsumers from?
2. Since our economy is based on a free market model (I think). How far should we actually go in protecting our economy/markets and it's consumers?
3. What types of changes to current legislation would you like to see (added or subtracted) That you think would cause (possibly cause) the best possible outcomes for our economy/markets and it's consumer?
Here's Citigroup's daily gain/loss over the past 11 months or so.
EDIT: don't you wish you'd bought some in early March 2016? You'd be up over 50% on that position. Although if you have any sort of large-cap MF you probably own some already...
Dodd Frank was supposed to decrease the likelihood of another taxpayer bailout. With that out of the way, get ready for another $1 trillion or two when banks "can't unwind" from all those crazy loops they tie themselves into. Maybe Hank Paulson will get down on bended knee and appeal to Nancy Pelosi again. Oh, no, this time it will be Mnuchin. Gold-in-Sacks is lovin' it!
Dodd Frank went to far and too strict. Many small banks could not understand Dodd Frank. Now we have a president who will let small business borrow money , and not get as bad as what Clinton did to the Glass Seagal Act. Anyone who could breath got a loan to buy a house with no money down.
Millions of foreclosures with people buying homes they never could afford in the first place. All loans were rated Triple A. What a farce. Many people didn't have a job to make the first payment.
Dodd Frank went to far and too strict. Many small banks could not understand Dodd Frank. Now we have a president who will let small business borrow money , and not get as bad as what Clinton did to the Glass Seagal Act. Anyone who could breath got a loan to buy a house with no money down.
Millions of foreclosures with people buying homes they never could afford in the first place. All loans were rated Triple A. What a farce. Many people didn't have a job to make the first payment.
I hope you understand that the loans you are complaining about were being issued by the very institutions that now Trump is going to roll back regulations on.
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Without laws that treat all fairly I do support things falling apart.
