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Open Discussion Discuss Can we talk? at the General Forum; Originally Posted by jimbo Explain? Exactly how and when? did. read back...

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  #21 (permalink)  
Old 11-27-2017, 03:10 AM
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Default Re: Can we talk?

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Originally Posted by jimbo View Post
Explain?

Exactly how and when?
did. read back
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Republican pollster Frank Luntz quoted a report and said that 43 percent of immigrants from African countries have a bachelor’s degree or higher, compared with 33 percent of the American population overall.
“Nigerian-Americans, for instance, have a median household income well above the American average.”
https://www.bloomberg.com/view/artic...el-in-the-u-s-
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Old 11-27-2017, 03:12 AM
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Default Re: Can we talk?

ummm...bernie madoff looks like an angel compared to what banks did leading up to 2008.
does anyone from the right remember?
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Republican pollster Frank Luntz quoted a report and said that 43 percent of immigrants from African countries have a bachelor’s degree or higher, compared with 33 percent of the American population overall.
“Nigerian-Americans, for instance, have a median household income well above the American average.”
https://www.bloomberg.com/view/artic...el-in-the-u-s-
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Old 11-27-2017, 08:06 AM
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Default Re: Can we talk?

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Originally Posted by saltwn View Post
ummm...bernie madoff looks like an angel compared to what banks did leading up to 2008.
does anyone from the right remember?
Oh, you mean the sub-prime mortgages that Clinton promoted.

While I do agree that banks have too much power, they always will have for as long as people live beyond their means and need the banks to subsidize their chosen lifestyles by borrowing what they can't afford to pay back.
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Old 11-27-2017, 09:45 AM
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Default Re: Can we talk?

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Originally Posted by saltwn View Post
why at this time while he's been found to have targeted money laundering countries in his business partnerships, and that those he did lend his brand to have actually been laundering money,
why would he do this now?
does he want to get caught?
the meme about no oversight is strange. if there were infractions even thought of he could fire someone on that committee.
no. he does not want oversight of banks. he does want too big to fail banks. but why?
Again, you cannot stay on the subject of Trump appointing an interim director for the grossly misnamed Consumer Financial Protection Bureau. The outgoing director left a week early so he could try to appoint an interim director. President Trump used his authority under Federal law to appoint an interim director.

Keep in mind the director has extraordinary powers to unilaterally set rules for consumer credit as well as snoop on your financial records on a whim. As usual it is in the public interest when a Democrat bureaucrat does it but to be feared when a Republican appointee is put in charge.
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Old 11-27-2017, 09:54 AM
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Default Re: Can we talk?

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Originally Posted by Mikeyy View Post
I took Jimbo off ignore to check if I was right. I was. Jimbo, do you understand the subject is not Trump's legality as much as it is putting a guy in charge who does not have the consumers interest at heart. Why can't you for one god damned time address the fuqing topic instead of playing BS games? I know you think it's your job here to defend Trump. I will just put you back to ignore but I just never get the point of your trollish behavior. You know what the point of the story is.
Now the King of the Ignore List reveals his partisan bias yet again. His objection is not to the President exercising his legal authority to appoint an interim Consumer Credit Commissar it is to having President Trump appoint one. It was all hunky dory when an army of loyal Democrats ruled the bureaucracy but Republicans are not in the public interest.
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Old 11-27-2017, 10:10 AM
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Default Re: Can we talk?

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Originally Posted by GottaGo View Post
Oh, you mean the sub-prime mortgages that Clinton promoted.

While I do agree that banks have too much power, they always will have for as long as people live beyond their means and need the banks to subsidize their chosen lifestyles by borrowing what they can't afford to pay back.
You are referring to the Community Reinvestment Act (CRA) that was actually passed during the Carter administration. It was an initiative to promote home ownership by those that previously had been unable to obtain a home loan, by loosing borrowing requirements. The law was a bad idea made worse by Janet Reno who threatened banks that did not lower their lending standards.

Quote:
The Clinton Treasury Department's tough new regulations in 1995 compelled the banks to engage in far-riskier lending practices or receive a failing CRA grade.
The Bush administration for 6 years warned that the CRA needed to be reeled back in or it would create a crisis. However, liberals in Congress were able to ignore these warnings and continue the gravy train.

Quote:
...But Frank is covering up his own role because he sang a far different tune in 2003, when the Bush Administration and many Republicans (including Sen. John McCain) tried to require Fannie and Freddie to comply with Securities and Exchange Commission regulations and other additional oversight requirements. Treasury Secretary John Snow, in fact, had specifically warned Congress that Fannie and Freddie needed a new supervisory structure so that both institutions would "maintain capital and reserves sufficient to support the risks that arise or exist in its business." Rep. Frank was unconcerned. He told a hearing, "Fannie Mae and Freddie Mac are not in a crisis." Rather, he said, they were "fundamentally sound," and criticisms of them were unjustified exaggerations and "disaster scenarios." Then he confirmed why: "The more pressure there is [to regulate] then the less I think we see in terms of affordable housing" He wanted to continue both the giveaway train supplying mortgages to those who couldn't afford them and the gravy train for politicians...
The CRA Cover-Up | The Heritage Foundation
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Old 11-27-2017, 11:08 AM
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Default Re: Can we talk?

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Originally Posted by GetAClue View Post
You are referring to the Community Reinvestment Act (CRA) that was actually passed during the Carter administration. It was an initiative to promote home ownership by those that previously had been unable to obtain a home loan, by loosing borrowing requirements. The law was a bad idea made worse by Janet Reno who threatened banks that did not lower their lending standards.

The Bush administration for 6 years warned that the CRA needed to be reeled back in or it would create a crisis. However, liberals in Congress were able to ignore these warnings and continue the gravy train.

The CRA Cover-Up | The Heritage Foundation
I was actually referring to Clinton making it worse. Though it may have existed prior to Clinton via Carter, it did not noticeably escalate until Clinton.
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Old 11-27-2017, 05:48 PM
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Default Re: Can we talk?

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Originally Posted by GottaGo View Post
Oh, you mean the sub-prime mortgages that Clinton promoted.

While I do agree that banks have too much power, they always will have for as long as people live beyond their means and need the banks to subsidize their chosen lifestyles by borrowing what they can't afford to pay back.
the recession was caused by multiple problems like cutting taxes too much w/o cutting spending and by the practice of selling the same product to several different buyers. even insurers (massmutual) did underhanded stuff.
And commercial banks being lumped with home town checking/savings banks. There was no law against that till it helped cause a depression, and for many years we had nothing like 1929 or 2008, but little by little those oversights were torn apart till they were completely gone. They caused a deep recession that started out as a depression/ the one thing we did right was to reinstitute some guidelines, not enough imho, but now the commission is in jeopardy of partisan politics.
Plus the power of the presidency over bipartisan commissions is also scary.
Remember expansion of powers is always great till the other party is in power.
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Republican pollster Frank Luntz quoted a report and said that 43 percent of immigrants from African countries have a bachelor’s degree or higher, compared with 33 percent of the American population overall.
“Nigerian-Americans, for instance, have a median household income well above the American average.”
https://www.bloomberg.com/view/artic...el-in-the-u-s-
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Old 11-28-2017, 12:48 AM
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Default Re: Can we talk?

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Originally Posted by saltwn View Post
Is anyone here on the right worried that Trump broke a law put in place to protect us from crooked bankers?
the dodd frank law was not strong enough, most of us agree but one thing it did do was keep banks from doing most of the awful things that caused the great recession.

One caveat is that when a chairman of that oversight group retires, he is followed by a pick of his choice usually the number 2 man on that job.
this keeps political appointments at bay but more importantly keeps lobbyists from interfering with or watering down the safety measures put in.
#1 why would Trump do this?
#2 do you think the president (remember there will be opposing party potus some day) should wrest even more power?
You might as well get used to the bankers/republican contributors running amock on us Salty.

On June 7, 2017, President Trump nominated Kelly to serve as a United States District Judge.In other words, he is tRump lacky.
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Old 11-28-2017, 02:02 AM
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Default Re: Can we talk?

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Originally Posted by treedancer View Post
You might as well get used to the bankers/republican contributors running amock on us Salty.

On June 7, 2017, President Trump nominated Kelly to serve as a United States District Judge.In other words, he is tRump lacky.
at least-hopefully- he has no russian ties.
welcome to the new normal.
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Republican pollster Frank Luntz quoted a report and said that 43 percent of immigrants from African countries have a bachelor’s degree or higher, compared with 33 percent of the American population overall.
“Nigerian-Americans, for instance, have a median household income well above the American average.”
https://www.bloomberg.com/view/artic...el-in-the-u-s-
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