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HomeOff Topics News & Politics › Obama pushing for Big Banks giving Big Bonuses to Pay Back the last 117 Billion!
01-15-2010 02:46 AM  8 years agoPost 21
Dennis (RIP)

rrApprentice

Oregon

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My party, did I miss something. I don't have one! I voted for independant, republican, democrat, green, and I think I even voted for a marijuanna party canidate once! What say you to that!
Hey man. Its a free country. You can put your vote wherever you choose. I don't agree where you are putting your vote. But, its still your right.

Thats what I think about that.

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01-15-2010 03:04 AM  8 years agoPost 22
debogus

rrApprentice

Beauklahoma,peoples republic of mexifornia,USSA

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Litmus test , every time a discussion goes this way ,the I vote independent or no party best candidate card is played.
Then the rush card.
Have you ever hugged a tree ?

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01-15-2010 03:12 AM  8 years agoPost 23
Dennis (RIP)

rrApprentice

Oregon

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Then the rush card.
You forgot the Fox News card.

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01-15-2010 03:24 AM  8 years agoPost 24
tommytt1

rrVeteran

Mercerville, NJ, USA

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Dennis, our opinions aren't that far apart, with one big exception: The liberal policy in regards to deregulation of banks to open investment to more people(mostley people with less money).So maybe more could make something for retirement. It started out good. I personally did ok without a huge risk. Then the investment side of banks and investment banks, had there execs start to get big bonus addicted, and did anything they could to pay themselves sickening amounts of money, no matter how bad the investment. Basically filling the pockets of some at the expense of the Company and others. This intern almost killed these banks, hence the bailout.

In big business nowadays, its lie cheat steal, without getting caught and all is well. Thats the way it is now. I think they teach that in school. Tom PS I don't need a job I have one!

I made a mistake once, but I was wrong?

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01-15-2010 03:28 AM  8 years agoPost 25
baby uh1

rrVeteran

St. James, Mo.

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In big business nowadays, its lie cheat steal, without getting caught and all is well. Thats the way it is now. I think they teach that in school. Tom
Have you taken a good look at our elected "servants" in DC?
Talk about lie, cheat, and steal! They even scare the bankers!

Anything is possible if you don't know what you are talking about!

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01-15-2010 03:31 AM  8 years agoPost 26
Dennis (RIP)

rrApprentice

Oregon

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Dennis, our opinions aren't that far apart, with one big exception: The liberal policy in regards to deregulation of banks to open investment to more people(mostley people with less money).So maybe more could make something for retirement. It started out good. I personally did ok without a huge risk. Then the investment side of banks and investment banks, had there execs start to get big bonus addicted, and did anything they could to pay themselves sickening amounts of money, no matter how bad the investment. Basically filling the pockets of some at the expense of the Company and others. This intern almost killed these banks, hence the bailout.
Those bonuses, as sickening as they are, are NOT the cause of the crash and the bailouts. Our present government would lead you to believe so, only to cover their own behinds. As already mentioned, liberal policies, and the right giving in to them, over a period of time is what caused those bailouts. Poor home loans by Fannie & Freddy is what got us into this mess. It took off from there. Pure and simple.

Again, as already mentioned, if you want specifics, I can provide them.

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01-15-2010 03:31 AM  8 years agoPost 27
tommytt1

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Mercerville, NJ, USA

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Someone just called me a democrat. I didn't take it as an insult, I just thought the need to clarify I'm not, thats all. Now move on Troll, unless you have something to add to the discussion other than social comedy or lack there of.

I made a mistake once, but I was wrong?

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01-15-2010 03:40 AM  8 years agoPost 28
tommytt1

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Mercerville, NJ, USA

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Dennis, its not the bonuses themselves, its the phoney quick jump bad investments that pay out these high bonuses and intern put the companies at risk.

Baby uh1, I know some politions have been crooked in the past, and I'm sure more will be in the future, but if you look at most they are fairly honest.

Politics, are give and take. I vote for something that you need even if I don't totally agree, so you will vote for something I need in the future. Thats politics, and then you add in a little corruption!

I made a mistake once, but I was wrong?

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01-15-2010 03:43 AM  8 years agoPost 29
Dennis (RIP)

rrApprentice

Oregon

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Dennis, its not the bonuses themselves, its the phoney quick jump bad investments that pay out these high bonuses and intern put the companies at risk.
It still all started with very poor liberal policies tommy. Banks were forced to make poor home loans to people that could not afford them. Outrageous bonuses were an after effect of that. Not the cause.

Keep something in mind tommy. MILLIONS were paid out in outrageous bonuses that went right back into the economy. But, hundreds of BILLIONS were paid out in bad home loans that could not be paid back.

A very large difference there.

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01-15-2010 11:45 AM  8 years agoPost 30
tommytt1

rrVeteran

Mercerville, NJ, USA

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Noone forced the banks to write bad paper. No liberal policy forced anybody to do that. If you qualify, and the house is worth it than you can buy it, period. The liberal policy didn't force any bank to write the bad loans. The insatiable lust for big bonuses made loan officers and exec's make these bad loans. Fanny Mae and Freddy Mac just got stuck insureing them. Tom

I made a mistake once, but I was wrong?

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01-15-2010 12:04 PM  8 years agoPost 31
jsenicka

rrProfessor

Eagle River, WI

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tommytt1, there you are 100% incorrect.
If you wanted to open branches, merge with other banks or do anything that required approval by regulators, you had to be writing a higher and higher percentage of "affordable housing" loans to low income borrowers. The rules enforced around the community reinvestment act did not cause everything, but they did create the artificial demand on housing which created the bubble and gave it life. Once the bubble was alive it became self feeding.

Jim Senicka
Team Manager, GrandRC Flight Team

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01-15-2010 04:01 PM  8 years agoPost 32
Dennis (RIP)

rrApprentice

Oregon

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This was posted here some time ago by Ron Hill. It is the most accurate work I have seen on this subject:

Ron Hill Quote:

Who signed into law the Commodity Futures Modernization Act that created credit default swaps?

Who repelled Glass-Stegall which allowed commercial and investment banking to merge?

More Dems than Repubs voted for Glass-Steagall to be repealed,

More Dems than Repubs voted for the Commodity Futures Modernization Act (which basically helped create credit default swaps),

Both were signed into law by a Democratic President,

Republicans tried to get more regulation in 2003, 2005, and 17 times in 2008 alone... And were shot down by Dems like Barney Frank each time.

Here is the data on who voted for the CFMA:
Quote

Senate: 52 Republicans and 38 Democrats voted for the bill. Sen. Richard Shelby of Alabama (Republican, formerly a Democrat) voted against it, as did 7 Democratic Senators: Barbara Boxer (Calif.), Richard Bryan (Nev.), Byron Dorgan (N.D.), Russell Feingold (Wisc.), Tom Harkin (Iowa), Barbara Mikulski (Md.) and Paul Wellstone (Minn.) Sen. Peter Fitzgerald (R-Ill.) again voted "present", while Sen. John McCain (R-Ariz.) did not vote. On Agreeing to the Conference Report, S.900 Gramm-Bliley-Leach Act, roll call 354, 106th Congress, 1st session Votes Database at The Washington Post, retrieved on October 9, 2008

House: Republicans voted 207-5 in favor with 10 not voting. Democrats voted 155-51 in favor, with 5 not voting. Independent-Socialist Rep. Bernard Sanders of Vermont voted no. On Agreeing to the Conference Report, S. 900 Financial Services Modernization Act, roll call 570, 106th Congress, 1st session Votes Database at The Washington Post, retrieved on October 9, 2008

It was rolled into the Spending bill H.R. 4577. The votes were 157-9 Democrats and 133-51 Republicans. (That's more Dems than Repubs BTW).

The Senate version passed by "Unanimous Consent." President Clinton signed it into Public Law (106-554) on December 21, 2000.

How is all of that a failure of the conservative philosophy? Other than it did fail to stop the dems?

There are videos available on YouTube of Dems giving Conservatives hell in open Congressional hearings for even bringing this subject up about CFM. In fact, one Democratic Senator virtually demonized a Conservative Senator in those hearings calling him an outright lier (sp). Look them up if you want to see for yourself.

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01-15-2010 04:36 PM  8 years agoPost 33
dilberteinstein

rrNovice

texas - USA

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Here you go. This video is very straightforward and to the point. How these crumbs stay in office is......

http://www.youtube.com/watch?v=_MGT...feature=related

90% of life is "showing up"

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01-15-2010 06:02 PM  8 years agoPost 34
debogus

rrApprentice

Beauklahoma,peoples republic of mexifornia,USSA

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but they did create the artificial demand on housing which created the bubble and gave it life. Once the bubble was alive it became self feeding
Didnt Barney put a close personal "friend" into a high position at Fannie Mae ?

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01-15-2010 08:38 PM  8 years agoPost 35
dilberteinstein

rrNovice

texas - USA

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debogus
Didnt Barney put a close personal "friend" into a high position at Fannie Mae ?
How close?

90% of life is "showing up"

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01-15-2010 09:11 PM  8 years agoPost 36
tommytt1

rrVeteran

Mercerville, NJ, USA

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Seneca, a self feeding bubble? Come on. You must work in the banking industry. All I know is commission bankers were going to the bank with wheel barrows full of money, and later there companys fell.

But now its the legislations fault. Give me a break.

Dennis, I guess the conservitive God like senate and congresss could see that if the legislation was passed this would all happen. Please

I guess the legislation was passed so the scumbags and dirtballs in the banking industry could have there way with the American publics money(which is basically what happened). I don't think so. The banking industry in a greedy fashion continued on the same destructive path thinking it would never catch up to them. Well guess what, it did, and now we were left holding the bag of debt, which at this time is still not paid back.

I guess now human nature has evolved into lie cheat steal blame it on the government and its ok...............

I made a mistake once, but I was wrong?

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01-15-2010 09:37 PM  8 years agoPost 37
dilberteinstein

rrNovice

texas - USA

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Nothing the government does clears the crooks in the banking industry....but the collapse of the housing market was generated by the Democratic controlled congress...pure and simple.

Ancient lending rules and sound banking practices were changed in order to fill an agenda allowing people to "finance more than they could afford."

I saw the change in the rules from my home. I used to get low cost loan ads in the mail at the time. I threw all the ads away until one day....I wanted to buy something. With my signature, I borrowed $30,000 for 5 years at 5.99% APR....no collateral at all. I did my own calculations to make sure the payments were accurate and everything worked out fine.

Those ads do not come any more. Money has tighten up.

Please look at the YouTube I posted above. The actions our government takes GREATLY effects the banking industry.

The Democrats' actions have driven this county to financial ruin and they must be stopped.

90% of life is "showing up"

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01-15-2010 10:52 PM  8 years agoPost 38
1stPlace

rrApprentice

Ohio USA

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Wow Tom, you really need to do a lot more studying on the subject. You are so far from reality that it's scary!

Diejenigen, die nicht lernen aus den Fehlern der Vergangenheit bestimmt sind, zu wiederholen.

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01-15-2010 11:03 PM  8 years agoPost 39
Dennis (RIP)

rrApprentice

Oregon

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Once again for what its worth:

Keep something in mind tommy. MILLIONS were paid out in outrageous bonuses that went right back into the economy. But, hundreds of BILLIONS were paid out in bad home loans that could not be paid back.

A very large difference there.

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01-15-2010 11:34 PM  8 years agoPost 40
tommytt1

rrVeteran

Mercerville, NJ, USA

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1st Place, Bl@# Me. Come up with more insults in the discussion. D@#$%& Bag. Okay I feel better now. Hows it feel? I personally feel you can't see the forest through the trees. In other words you aren't very street wise. You listen to you political radio station and convey what you hear on RR. I could go to any I'm a great American radio show and hear the exact same thing. You too can go away Troll. Be Gone I'm Done with you now.

Dennis, back to the debate. You and I have disagreed with each other for a while now, and hadn't resorted to insults.

Give one man a million dollars and he will spend a certain amount. Give a hundred people 100,00 each and they will spend more money total. In other words more money goes back into the economy=good economy. So in essence the Billions payed out a small amount goes back into the economy=bad economy.

Now who wrote the bad home loans? The banks, knowing that Fanny May and Freddie Mac would insure them, Hence my point. For what its worth. Tom

I made a mistake once, but I was wrong?

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HomeOff Topics News & Politics › Obama pushing for Big Banks giving Big Bonuses to Pay Back the last 117 Billion!
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