OBAMA putting the hammer on Banking Institutions

[TheMacDaddy]

Obama has finally done something that I think should of been done about 8 years ago... Financial Instutions will now face stricter regulations on their own investing... Instead of taking bailout money and helping American people some banks were making investments on hedge funds and not lending out money to business's or people.... Plus, some banks were giving out hugh bonuses to their employees and CEO's (bad timing to be doing this, while the economy is down)....

 

[Bubbakat]

When he put the word out the market went to dropping hard.

 

[beetlespin]

Just another stupid idea. Trying to regulate bonuses is not only stupid but also un-American. If somebody makes a company a million dollars in profit that they wouldn't have made without that person then they deserve a big bonus. Would you rather the bank just keep the money for themselves?

 

[foodsaver]

Bonuses are bad Beetlespin. Everyone should make the same regardless of their contribution comrade...

 

[outcaster]

beetlespin - 1/24/2010 9:31 AM

Just another stupid idea. Trying to regulate bonuses is not only stupid but also un-American. If somebody makes a company a million dollars in profit that they wouldn't have made without that person then they deserve a big bonus. Would you rather the bank just keep the money for themselves?

There using OUR money to make those profits.... GEEZ

 

[beetlespin]

Would you rather them not make a profit with it? If they don't profit they don't pay it back. GEEZ...

 

[Bob Scratchit]

beetlespin - 1/24/2010 11:19 AM

Would you rather them not make a profit with it? If they don't profit they don't pay it back. GEEZ...

+1,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000

 

[TheMacDaddy]

beetlespin - 1/24/2010 8:31 AM

Just another stupid idea. Trying to regulate bonuses is not only stupid but also un-American. If somebody makes a company a million dollars in profit that they wouldn't have made without that person then they deserve a big bonus. Would you rather the bank just keep the money for themselves?

You got banking instutituions that used bailout money from American tax payers and are giving big bonuses to CEO's and upper management.... Plus investing in hedge funds and God only knows what else... Don't you think they should be paying back the American people???? Everyone lets be corrupt and say hell with everyone else....

 

[outcaster]

beetlespin - 1/24/2010 12:19 PM

Would you rather them not make a profit with it? If they don't profit they don't pay it back. GEEZ...

I would rather they lend money... free up credit to small business and make loans again. Make a handsome profit and pay the taxpayers back. Then they can have their bonuses back once they pay off their debt to the American people. Paying obscene bonuses should not be a cost of doing business... Not now for sure! Not sure why that's hard for some to understand.

 

[TheMacDaddy]

outcaster - 1/24/2010 11:51 AM

beetlespin - 1/24/2010 12:19 PM

Would you rather them not make a profit with it? If they don't profit they don't pay it back. GEEZ...

I would rather they lend money... free up credit to small business and make loans again. Make a handsome profit and pay the taxpayers back. Then they can have their bonuses back once they pay off their debt to the American people. Paying obscene bonuses should not be a cost of doing business... Not now for sure! Not sure why that's hard for some to understand.

That is about the smartest and best post that I've heard since being on this Forum... Next time I see you, I will buy you a beer... Now that makes a lot of since, and I totally agree with you....

 

[beetlespin]

Too much credit is what caused this whole mess...

 

[TheMacDaddy]

Who gave out the credit??? These banks were giving out loans that didn't have fixed interest... Interest rate would increas 3 years after the loan... Well, if someone could barely afford to make their payments when they first got their loank, the interest rate would shoot up couple of points.... Finally, it would be impossible to be making the payments....

 

[beetlespin]

That's called "lack of personal accountability".

 

[TheMacDaddy]

A lack of personal accountability to the people who took the loans and the loan sharks... Remember, everything is about making money and sometimes people will push the limits to make the extra dollars...

 

[outcaster]

TheMacDaddy - 1/24/2010 2:09 PM

A lack of personal accountability to the people who took the loans and the loan sharks... Remember, everything is about making money and sometimes people will push the limits to make the extra dollars...

Guess which load paid the higher commission? (bonus) The A.I.R.,,,, or the Conventional 30 fixed?.

 

[TheMacDaddy]

Definately, not conventional loans... When I bought my house they were pushing me to get loan without fixed interest and I told them they were crazy... Banks were making ton of those loans unti the economy completely shut down... Gas prices, I believe had reason why the economy shut down too.. People, weren't ready to pay $4.00 gallon of gasoline...

 

[Sniperchoke]

There shouldn't have been a bailout to begin with. If banks made bad loans then they should have suffered the consequences. That being said the gov't shouldn't have pressured banks to make bad loans to low income individuals. In a free market if you make a bad decision you go out of business in the current market the gov't props you up. The previous admin and this admin have turned our country upside down. Our only hope is for the people to take our country back. Massachusetts is a start.

 

[outcaster]

TheMacDaddy - 1/24/2010 2:26 PM

Definately, not conventional loans... When I bought my house they were pushing me to get loan without fixed interest and I told them they were crazy... Banks were making ton of those loans unti the economy completely shut down... Gas prices, I believe had reason why the economy shut down too.. People, weren't ready to pay $4.00 gallon of gasoline...

Gas prices were the straw the broke that camels' back. People could make the mortgage payments until gas went up. It made everything else go up too. And who were reaping record profits never seen before in the history of the world? That's right, the Oil companies.... Now guess who can give all the money it wants to a political candidate thanks to the conservatives on the Supreme Court? hmmmm starting to detect a theme here. (sarcasm).

 

[beetlespin]

Cool!!! Maybe the oil companies can buy some congressional seats for non-democrats now! I believe I would rather pay the oil companies than Obama.

 

[TheMacDaddy]

Guys, we can make difference on these oil companies... If we can get group of people together, and lets say quit buying gas at shell gas station.... Do you know what kind of impact that would have??? Tremendous, you could shut them down within 6 months... Boycot, the power is in the hands of the buyer....