No more hedging by banks

Discussion in 'Current Events' started by unionman, Jan 21, 2010.

  1. unionman

    unionman New Member

    Obama just announced that he is going to prevent banks from sponsoring hedge funds, the same financial risk that created the financial melt down.
    This is one reason I voted for Obama. To fight corporate greed and CEO bonuses.
     
  2. moreluck

    moreluck golden ticket member

    Part of the money trouble was gov't caused.....remember Freddie Mac & Fannie Mae ??????????

    Obama didn't mention that ! Selective memory on his part. IDIOT !!
     
  3. tieguy

    tieguy Banned

    We're lucky to have such a financial wizard tinkering with our economy.:peaceful:
     
  4. av8torntn

    av8torntn Well-Known Member

    So sad. Yet another freedom being lost.
     
  5. tieguy

    tieguy Banned

    Market dropped over 200 points today because of the idiots continued war on banking. Sooner or later O has to stop playing these games and start delivering results.
     
  6. brett636

    brett636 Well-Known Member

    This elitist attitude by the Kenyan in chief is starting to get a little annoying. Considering he has never had a real job in his life, and then goes off and thinks he knows how to "fix" the banking industry is very sad at best. More regulation and taxes = fewer jobs and opportunities for people to build wealth. Marxism won't work here like it hasn't worked anywhere else on this planet. The November elections just can't get here soon enough.
     
  7. diesel96

    diesel96 New Member

    Perhaps I'm being too cynical. Maybe the Obama and congressional weak-knee'd Democrats are finally ready to give up Wall Street trickle-down economics and focus on Main Street trickle-up. There are those like my Fox and friends who believe that you just legislate to make the well-to-do prosperous, that their prosperity will leak through on those below. The Democratic idea has been that if you legislate to make the masses prosperous their prosperity will find its way up and through every class that rests upon it. Tell me, is the word greed in your volcabulary, or is Gov't just a scapegoat....
     
  8. brett636

    brett636 Well-Known Member


    I don't know about you, but I've never been employed by someone living in poverty.
     
  9. Lue C Fur

    Lue C Fur Evil member

    Me neither.

    Obama is for wealth disturbution. Getting punished for being sucessful is wrong. What ever happend to getting a good education and working hard to get more money to buy what you want?
     
  10. 1989

    1989 Well-Known Member


    Your right, it's all about GREED, government GREED and control. "We need to regulate the products not the institutions." (A CNBC quote) Will these rules do anything to prevent another fanni and freddi meltdown (bailout) I doubt it.

    I do love how the volatility comes back into the markets when Obama talks his anti-prosperity rhetoric though. I nice 4% dip for the week. Wall street pros make as much money in a down market as in an up market. The middle class on down are the ones who lose on a week like this. They lose much of their wealth through pensions, 401Ks, and IRAs. It's even better when Barney Frank comes out and practally calls Obama a :censored2:.
     
  11. diesel96

    diesel96 New Member

    Poverty....please... why do you even throw that out there. America once thrived from small business....Have you ever been employed by or owned a small business since leaving school ? Most of us have probably had life experiences with small companies before working at such a large conglomerate as UPS. We've given trickle down the benefit of the doubt for the last forty something years. Look where it got us besides Trillions in the whole, and trillions to get out...it has a massed the countries wealth to the top tier 2-3%, shipped our mfg'ing sector overseas, eliminated our unions, and shrunk our middle class.


    CNBC also said the fundamentals of the economy were strong as well. I'm happy for your loyalty to them, but if you deny their are no dirty greedy bankers, investors, traders, and loaners in the world than I have nothing else for you except keep blaming Obama for all of our problems.
     
  12. 1989

    1989 Well-Known Member

    Greedy bankers, investors, traders have been around for a hundred years. This wont help a banker make a good loan. Greedy investors and traders will make as much in the bear market as a bull market. They trade the market they have, not the market they want. Banks need capital to function.
     
  13. tieguy

    tieguy Banned

    Will you be quitting your trickle down job and soon working a trickle up job? can you send us the name of the janitor you choose to work for when it happens? Maybe a few pictures of you mopping some floors?:happy-very:
     
  14. tieguy

    tieguy Banned

    what did the liberal puppet cnbc base this assessment on? Money is still tight which is why Obama is threatening war on the banks. Unemployment is well over 10 percent. real estate still in a funk. Foreclosures are on the rise. companies reporting earnings are still reporting little growth. I'm glad someone thinks the economy is doing so good. I just want to know what they base it on other then the doomsday excuse of things could be worse.
     
  15. Baba gounj

    Baba gounj pensioner

    On Christmas Eve, the Department of Treasury said that it would remove the $400 billion cap on Treasury's funding of Fannie Mae and Freddie Mac, the two bankrupt government sponsored enterprises that Secretary Tim Geithner said were at the "epicenter" of the financial crisis. The move gives the failed GSEs unlimited taxpayer funded bailouts to cover losses incurred as a result of their managements' recklessness and their boards of directors' oversight failures. Geithner's Treasury essentially turned the two failed GSEs into full government agencies and further exposes taxpayers to losses that the GSEs may incur in the future. The two GSEs are expected to report losses in the billions for 2009. Also on Christmas Eve, Fannie and Freddie disclosed that they received approval to pay $42 million in compensation packages to 12 top executives (all federal government employees and payable in cash) for 2009. Interestingly, the Democrats, led by Geithner and Rep. Barney Frank (D-MA), have launched an all out attack on capitalism by attempting to restrict the compensation of Wall Street firms they deem to be too profitable.
     
  16. brett636

    brett636 Well-Known Member

    Actually, our country still thrives from small business. Small business employs most of the workforce in this country, and during both the worst and best of times its small business creating most of the new jobs. Don't allow the word "small" to cloud your judgement about the kind of cash it takes to run one. I did work for a small business once, and the owner was still a self made millionaire. I know in your mind I should have hated him for his wealth, but I was thankful to have a job.
     
  17. diesel96

    diesel96 New Member

    :rofl:.....good one Tie

    The banks are behaving as if the economic melt down and the Gov't's injection to bail them out never happened. What a slap in the face to all American taxpayers to reward it's employees with record bonuses and shrug off small business consumer loan applicants....
     
  18. brett636

    brett636 Well-Known Member

    So you're saying they should resort to the same activity that caused the bailout in the first place?
     
  19. bbsam

    bbsam Moderator Staff Member

    All of you right-wing talkers do know that you are defending the very culture that allows Fedex Ground to thrive, don't you? That's cool for my selfish side. A vast labor pool bodes well for my bottom line.
     
  20. Baba gounj

    Baba gounj pensioner

    Here's an interesting thought; just where did GE ,the parent company of NBC, get that $42 million to give to Conan ?
    Why from the $60 Billion it got from the stimulus package.