Banks win another one

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1prophet

Diamond Member
Aug 17, 2005
5,313
534
126



So-called "exotic" financial products -- particularly subprime mortgages that typically offered low introductory payments that later ballooned in size -- have caused soaring default rates and were considered a major factor in last year's financial crisis. The administration had wanted to ensure that banks and other mortgage lenders give customers the option of less risky fixed-rate and simple adjustable-rate home loans.

But the mandate for "plain vanilla" products has appeared politically unattainable amid growing opposing from financial institutions, Republicans and even some Democrats.

Forcing banks to offer such products would mean that financial products not labeled "plain vanilla" would be ripe for lawsuits, said Scott Talbott, a spokesman with the Financial Services Roundtable, which represents some of the nation's biggest financial-services firms.[/b]



Hurt profit margins, going against free market principles, prevent or slow growth in the financial industry, nope what they are worried about most is how a plain vanilla mortgage will show the bullshit that was subprime mortgages for most people and then having them challenged in a court of law with a jury of ones peers.

 

kylebisme

Diamond Member
Mar 25, 2000
9,396
0
0
Originally posted by: 1prophet
...what they are worried about most is how a plain vanilla mortgage will show the bullshit that was subprime mortgages for most people and then having them challenged in a court of law with a jury of ones peers.
Exactly, they think capitalism isn't about working hard to offer quality products, but rather being free to sucker people into crappy deals, and I am disturbed by how many people seem to agree.
 

imported_Lothar

Diamond Member
Aug 10, 2006
4,559
1
0
Originally posted by: Vic
No banks are lending any 'exotic' products anymore as it is, so at best this bill was a feel-good measure with no real purpose except to close the barn door after the horse already got out.

This.
 

JSt0rm

Lifer
Sep 5, 2000
27,399
3,947
126
Originally posted by: miketheidiot
Originally posted by: bamacre
Originally posted by: Red Dawn
Don't you have a Census Worker to slay?

That was pretty bad, Red. Not something I'd expect from you.

i thought it was hilarious

it was funny. faux outrage yet they will watch night vision video of a ac/30 gunships shredding people apart, bombs dropping on buildings, violent movies and video games but someone cracks a joke about a recently deceased person ohh noes! Its so horrible!

 

Wheezer

Diamond Member
Nov 2, 1999
6,731
1
81
Well, I'll be a sumbitch....who woulda thought that money would have such power over people in D.C.?

*shakes head in bewilderment*
 

sportage

Lifer
Feb 1, 2008
11,492
3,162
136
Since when did your great leader fight for anything? He gives speeches, and has shown no abilities to lead. Obama is more like a go-with-the-flow follower of the incompetent (currenly democratic led) congress.

To a point, I have to agree.
That is why I was for Hillary. You know... the guy with balls.
Obama reminds me a lot of JFK, and that was not meant as a compliment.
JFK dragged his feet on civil rights. It was LBJ that twisted arms and got
things done. I see a lot of comparisons between JFK/LBJ and Obama/Biden.
I'd suspect if Biden had the chance, we'd see a lot of arm twisting too, and things getting done.
If Obama is re elected, it will be interesting to see his last term.
Would he change into a hardliner, fighter, or remain the tightrope walker?

As to banking reform... Banks will simply ask for another billion bailout after a rosy staged recovery, while its business as usual behind the scene.
Can't wait to see their panic show next time, when they run to congress yelling "the sky is falling". We'll be there with our billfolds open and our eyes blindfolded. Nothing new...
 

Craig234

Lifer
May 1, 2006
38,548
350
126
Originally posted by: Wheezer
Well, I'll be a sumbitch....who woulda thought that money would have such power over people in D.C.?

*shakes head in bewilderment*

You seem to be missing the concept of democracy in which the people are 'vigilant' against problems, and discuss and oppose them to improve things.

The implication of your post is to not do anything about any problems in D. C. No matter what is done, just say 'well, there they go again'. Why are you spending time in P&N?

More particularly, why are you clicking my thread? What's your interest in information about the degree of banking's excess power, since you don't care to say anything useful?
 

Craig234

Lifer
May 1, 2006
38,548
350
126
Originally posted by: sportage
Since when did your great leader fight for anything? He gives speeches, and has shown no abilities to lead. Obama is more like a go-with-the-flow follower of the incompetent (currenly democratic led) congress.

To a point, I have to agree.
That is why I was for Hillary. You know... the guy with balls.
Obama reminds me a lot of JFK, and that was not meant as a compliment.
JFK dragged his feet on civil rights. It was LBJ that twisted arms and got
things done. I see a lot of comparisons between JFK/LBJ and Obama/Biden.
I'd suspect if Biden had the chance, we'd see a lot of arm twisting too, and things getting done.
If Obama is re elected, it will be interesting to see his last term.
Would he change into a hardliner, fighter, or remain the tightrope walker?

As to banking reform... Banks will simply ask for another billion bailout after a rosy staged recovery, while its business as usual behind the scene.
Can't wait to see their panic show next time, when they run to congress yelling "the sky is falling". We'll be there with our billfolds open and our eyes blindfolded. Nothing new...

Your history on JFK is quite lacking.

You do get it partly right that he was ineffective early on regarding civil rights, but thwas was an exception to his very strong stands on a variety of issues, and he was faced with a stark choice it may be hard for you to appreciate today, civil rights early on threatned his whole legislative agenda. He had a son of a bitch Congress to deal with - while the numbers didn't look bad for dems, it was with the old 'Boweevil' dems of the South who were largely outright racists. He had political realities.

In the meantime, he was probably the strongest president in standing up for right in modern times more generally, the opposite of what you say.

And while he was late on it - he didn't sacrifics his legislative agenda early on - he turned around to provide the best political leadership on civil rights IMO we've seen from any President - it was he who faced a racist nation after a century of that racism and went on national television to tell them that racism was a national moral issue that had to change, and provided the leadership for change that led to our different culture today where racism is anathema (with of course the civil rights movement doing the heavy lifting until then).

You might argue that LBJ is in the competition, but part of what helped LBJ get civil rights passed was the sentiment of passing it in honor of JFK.

So, what you have done is taken a nugget of truth that's pretty defensible given the Congress, not provided that context, and exaggerated it to the point of misrepresentation.

JFK was the first President to tell the nation after a century of racism that the nation needed to change, for moral reasons.

The nation's view of his policies was that he was pushing too hard too fast on civil rights. You are the one not paying attention to the real history in your attacks.

When asked, he'd discuss the process of change, how fast the nation could deal with it. He was pretty effective once he picked the issue up.

He was the first to say that when he took office, he never imagined civil rights would be an important issue, but it became a dominating agenda issue as he saw the problems.

JFK had introduced strong civil rights legislation LBJ got approved.

You don't appear to understand much the strong and bold leadership JFK showed on any number of issues - drawing the hard line against combat troops in Vietnam against constant pressure not only from the military and the right but his own hawkish officials, at a time when the national mindset was the US having 'never lost a war' and at the height of the cold war fear of the spread of communism, as he was an outspoken advocate for peace, beginning to broach understanding and peace with the Soviet Union - Kruscheve said that the world would have been very different with the peace he and JFK were working on together - his creating the first treaty to limit nuclear testing, his changing US policy to not support European colonization of the third world the way it had, and much more.
 

Wheezer

Diamond Member
Nov 2, 1999
6,731
1
81
Originally posted by: Craig234
Originally posted by: Wheezer
Well, I'll be a sumbitch....who woulda thought that money would have such power over people in D.C.?

*shakes head in bewilderment*

You seem to be missing the concept of democracy in which the people are 'vigilant' against problems, and discuss and oppose them to improve things.

The implication of your post is to not do anything about any problems in D. C. No matter what is done, just say 'well, there they go again'. Why are you spending time in P&N?

More particularly, why are you clicking my thread? What's your interest in information about the degree of banking's excess power, since you don't care to say anything useful?

listen, the corruption in D.C. is fun to talk about, but it runs so far and so deep that there is no changing. It has been that way for a looooong time. I don't give a damn who is in power, it's all about the money and the numbers. It's great that you want to bring this sort of thing to light but the truth is, it will never....ever go away.

sure, you can talk about the "what-ifs" and the "we should do this" or "we should do that" bullshit but that's all it is talk talk talk...this forum like many others is like the local bar...people gather to talk and complain about things but at the end of the night they go home to their beds, go to sleep wake up face the day and worry about their immediate problems like food on the table and paying the utility bills.

They are not going to worry about politics until they are back at the bar again bitching the same old bitch and repeating the cycle over and over.

So you just continue to take yourself and your thread to heart.

But every once in a while I'll stop by and toss in some meaningless bullshit just to remind you that you can't take things so damn serious.
 

Robor

Elite Member
Oct 9, 1999
16,979
0
76
Originally posted by: spidey07
Originally posted by: Blackjack200
Originally posted by: Common Courtesy
What, the leader of the Dem party can not keep his people in line. They actually think for what might be best for the country? That is their position, to represent the people of the United States.

Are you insane? If there was ever a majority of politicians in power that were concerned with what was best for the country rather than the lobbyists and special interests, UHC would have been put in place decades ago.

I don't think Obama wants what's best for the country either, but at least he was trying to throw us some table scraps, the Republicans and a sizeable chunk of the Democrats wouldn't even want that.

You actually think that the Democrats and Republicans lining up against Obama want what's best for the country?

He's very actively destroying it every single day, so yeah believe it or not them not doing what he wants is doing what is best for the country. FBHO.

You're a lunatic.
 

alchemize

Lifer
Mar 24, 2000
11,486
0
0
Originally posted by: Red Dawn
Originally posted by: spidey07
Originally posted by: Blackjack200
Originally posted by: Common Courtesy
What, the leader of the Dem party can not keep his people in line. They actually think for what might be best for the country? That is their position, to represent the people of the United States.

Are you insane? If there was ever a majority of politicians in power that were concerned with what was best for the country rather than the lobbyists and special interests, UHC would have been put in place decades ago.

I don't think Obama wants what's best for the country either, but at least he was trying to throw us some table scraps, the Republicans and a sizeable chunk of the Democrats wouldn't even want that.

You actually think that the Democrats and Republicans lining up against Obama want what's best for the country?

He's very actively destroying it every single day, so yeah believe it or not them not doing what he wants is doing what is best for the country. FBHO.
Don't you have a Census Worker to slay?
LOL beyond the pale. You're becoming a real dirtbag.

 

Craig234

Lifer
May 1, 2006
38,548
350
126
Originally posted by: bamacre
Originally posted by: Red Dawn
Don't you have a Census Worker to slay?

That was pretty bad, Red. Not something I'd expect from you.

If it was a cheap shot, we'd expect that more from Bamacre.
But it wasn't that bad, it was noting the radical right qualities of the post.
 

Craig234

Lifer
May 1, 2006
38,548
350
126
Originally posted by: Wheezer
Originally posted by: Craig234
Why are you spending time in P&N?

More particularly, why are you clicking my thread? What's your interest in information about the degree of banking's excess power, since you don't care to say anything useful?

But every once in a while I'll stop by and toss in some meaningless bullshit just to remind you that you can't take things so damn serious.

Don't bother.
 

bfdd

Lifer
Feb 3, 2007
13,312
1
0
Originally posted by: JSt0rm01
Originally posted by: miketheidiot
Originally posted by: bamacre
Originally posted by: Red Dawn
Don't you have a Census Worker to slay?

That was pretty bad, Red. Not something I'd expect from you.

i thought it was hilarious

it was funny. faux outrage yet they will watch night vision video of a ac/30 gunships shredding people apart, bombs dropping on buildings, violent movies and video games but someone cracks a joke about a recently deceased person ohh noes! Its so horrible!

Making a joke about someone dying is drastically different than calling and/or comparing someone to a murderer. It's not that funny because instead of coming up with any sort of decent debate he decided to slang an insult and compare the person to a murderer. I'm all for jokes and laughing at life, but it's really hard to take anyone serious when that's the first thing they jump to.
 

Craig234

Lifer
May 1, 2006
38,548
350
126
Originally posted by: bfdd
Originally posted by: JSt0rm01
Originally posted by: miketheidiot
Originally posted by: bamacre
Originally posted by: Red Dawn
Don't you have a Census Worker to slay?

That was pretty bad, Red. Not something I'd expect from you.

i thought it was hilarious

it was funny. faux outrage yet they will watch night vision video of a ac/30 gunships shredding people apart, bombs dropping on buildings, violent movies and video games but someone cracks a joke about a recently deceased person ohh noes! Its so horrible!

Making a joke about someone dying is drastically different than calling and/or comparing someone to a murderer. It's not that funny because instead of coming up with any sort of decent debate he decided to slang an insult and compare the person to a murderer. I'm all for jokes and laughing at life, but it's really hard to take anyone serious when that's the first thing they jump to.

I'm against 'humor' in poor taste. In this case, I think his point was not so much to make a joke as to say that the post was nutty the same way as the likely killer. He had a point.

Now, sometimes it's a fine line between 'poor taste' and 'edgy' or 'dark' humor.

For example, I recall after Bobby Kennedy had spent an infuriating time dealing with the southern racists in Biloxi Mississippi as he tried to get a black student in college, and had to send his marshalls who were attacked, the Cuban Missile Crisis occurred and in a meeting, he said he wondered if the missiles could reach Biloxi, Mississippi. Now, that's funny, dark humor.
 

SigArms08

Member
Apr 16, 2008
181
0
0
Originally posted by: Craig234
Originally posted by: bfdd
Originally posted by: JSt0rm01
Originally posted by: miketheidiot
Originally posted by: bamacre
Originally posted by: Red Dawn
Don't you have a Census Worker to slay?

That was pretty bad, Red. Not something I'd expect from you.

i thought it was hilarious

it was funny. faux outrage yet they will watch night vision video of a ac/30 gunships shredding people apart, bombs dropping on buildings, violent movies and video games but someone cracks a joke about a recently deceased person ohh noes! Its so horrible!

Making a joke about someone dying is drastically different than calling and/or comparing someone to a murderer. It's not that funny because instead of coming up with any sort of decent debate he decided to slang an insult and compare the person to a murderer. I'm all for jokes and laughing at life, but it's really hard to take anyone serious when that's the first thing they jump to.

I'm against 'humor' in poor taste. In this case, I think his point was not so much to make a joke as to say that the post was nutty the same way as the likely killer. He had a point.

Now, sometimes it's a fine line between 'poor taste' and 'edgy' or 'dark' humor.

For example, I recall after Bobby Kennedy had spent an infuriating time dealing with the southern racists in Biloxi Mississippi as he tried to get a black student in college, and had to send his marshalls who were attacked, the Cuban Missile Crisis occurred and in a meeting, he said he wondered if the missiles could reach Biloxi, Mississippi. Now, that's funny, dark humor.

Ah, now I get it....its funny to assume that some individual who disagrees with you is a murderer! Yes, how hilarious!! Maybe throw that person in jail and throw away the keys, too. Let the hilarity ensue!!!!
 

Craig234

Lifer
May 1, 2006
38,548
350
126
Originally posted by: SigArms08
[Ah, now I get it....
]

No, you don't.

its funny to assume that some individual who disagrees with you is a murderer! Yes, how hilarious!! Maybe throw that person in jail and throw away the keys, too. Let the hilarity ensue!!!!

Don't you have a census worker to attack?

To repeat:

His post was commenting on the level of right-wing nutty in his post. That's it.
 
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