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Save The Bankers

Discussion in 'Off Topic Threads' started by otnot, Feb 9, 2012.

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  1. otnot

    otnot Active Member

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    This morning our favorite president (Obummer) bailed out the banks again. For a mere $29 billion dollars he let the banks off the hook for robo-signing, in other words FRAUD. Instead of going to jail the bankers will be paying the fine with money WE gave them in the TARP bailout. If that isn't bad enough they are going to pay people who have been foreclosed on $2,000 dollars for their trouble. What has our country come to?
     
  2. TinMan88

    TinMan88 TS Member

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    A country of superball watchers, obviously.

    Not much interest here... buying your way out of jail is not a blip on the radar any more.
     
  3. wireguy

    wireguy TS Member

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    Mexico can now take lessons from America on corruption and greed.
     
  4. TD1958

    TD1958 Member

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    Fellows, you have to remember it's an election year so obummer is trying to save face after how many years to help the people who lost their homes because of our goverment/bankers greed. Way tooo little too late. This way in his eyes it looks as though the geverment had no roll in those peoples losses. Tim
     
  5. TinMan88

    TinMan88 TS Member

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    Rick Barker, With all respect to you... whaaat sort of convoluted thinking is in that explanation? Correct me if I am wrong here but interest rates are are on the financial side of money. Robo-signing is fraud and this "agreement" handed banks immunity from having to stand in the docket for perpetrating their crime.
     
  6. otnot

    otnot Active Member

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    Next thing Obummer will hand the banks will be a free pass for securities fraud. Because when the investors of Morgage Backed Securities finally figure out that they were ripped off they will be the next in line to sue the banks. Most of the MBS sold were not even securitized. If you want to know why our country is in trouble just follow the money.
     
  7. TinMan88

    TinMan88 TS Member

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    Oh yes, bundling over-valued, triple A rated fraud is what the government does best!

    No!No! Tigger, you've got that all wrong, said Owl in a serious voice as Winnie the Pooh sat staring- confused and perplexed.
     
  8. shotgunjerry

    shotgunjerry Active Member

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    If I loan some one money with the agreement that that person pays me back x amt. of dollars until the loan is payed back and that person quits paying the monthly payments. I take legal action to recoup my money, where or why would I be penalized??????
     
  9. Bob Hawkes

    Bob Hawkes Well-Known Member

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    You people need to read the book THROW THEM ALL OUT, Buffet and Soros have made big bucks from the government and the bail-out of banks, all on our dime. Many politicians have profited over the years on insider trading, illegal for us but a course of business for them.
     
  10. timberfaller

    timberfaller Well-Known Member

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    As the ole saying goes, "do as I say, not as I do!"

    Throw the bums out! and I don't mean at election time!
     
  11. TinMan88

    TinMan88 TS Member

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    Thank You Bob Hawkes.

    And thank you Rick Barker for a lengthy and reasoned effort.- Compromised by one statement. (wait while I grab it)...

    "Now the entire cause of this problem was the government"

    If you stand by the total nature of that statement, You are 'owned'.
     
  12. TinMan88

    TinMan88 TS Member

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    Sorry Rick, in the order of posting you addressed my quote of you. TM
     
  13. otnot

    otnot Active Member

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    Wasn't it also Clinton who helped to repeal the Glass Steagall act? Which prevented commercial banks from being both commercial and investment banks. Once the banks were free from this restriction the game was on to bet our savings on risky financial gambles. It also allowed them to become to big to fail.
    Rick I'm sorry but the banks(Goldman Sachs,J.P Morgan,Federal Reserve) own the government. I agree that not all banks are evil but they all contribute to the problem and that is fractionalized banking practices. You cannot continue to create credit indefinitely in a finite world.
     
  14. stokinpls

    stokinpls Well-Known Member

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    Look what he did for his buddy Warren.

    I know, just a coincidence.
     
  15. Bob Hawkes

    Bob Hawkes Well-Known Member

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    Now you're talking Stoki. This stuff's been going on for years but has gotten incredibly worse recently. Both Dodd and Frank have retired and will live a good life on our dime after they screwed the taxpayer over for years.
     
  16. otnot

    otnot Active Member

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    I have to agree Rick that the government has no place in business or our lives for that matter.

    The only reason the government forced the banks to make risky loans is because the banks wanted it that way. You have to understand that the more money a bank loans out the more it's balance sheet grows and the more money that goes into circulation.

    The banks didn't care if you defaulted on your mortgage in fact they wanted you to. The mortgage was backed by the FDIC. And besides by time people defaulted the banks had bundled the mortgages into MBS and sold them to unsuspecting investors as aaa rated. So they got paid 80% by the FDIC for the default and profited from selling MBS, and got the house back. Triple whammy.

    Yes we have been divided and conquered without a shot being fired.
     
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