Dante Posted October 6, 2011 Posted October 6, 2011 Nice job, Dick. Encourage a run on the bank. Then, when they collapse, you can bail them out. Wait, what's that? They won't collapse, because they're "too big to fail?" You !@#$ing moronic dipshit. If it weren't for hats, Dick, your head wouldn't have any !@#$ing use whatsoever. I'm amazed at just how juvenile and incompetent these people with tremendous power are. Who talks like this?
Nanker Posted October 7, 2011 Posted October 7, 2011 Just another example of the government picking winners and losers. From what I understand Durbin/Frank were influenced by lobbyists from Walmart and others who convinced them that the fees they paid to banks for Debit Card transactions should be reduced and capped. That's what the legislation did. Of course, the losers in the argument - the banks have no intention of eating those transaction costs, and they're passing them on to the consumers. That's exactly what happened previously when using a DC for a transaction. You were paying the fees - through higher prices at the establishments where they were used. I'm sure that Walmart and all other merchants will now lower their prices on their merchandise and services to give back to the people that percentage of costs that they are now saving as a result of this law. To look at it in another way - merchants are going to reap windfall profits because of this law. Banks are not going to give away services for free. To get "free checking" one needs to leave a substantial amount of coin on deposit, and the bank is leveraging that money for other purposes which they hope will earn them additional income that will cover the transactional costs of consumers using their DCs. I'm predicting the next round of street protests and riots against the merchants once this sinks into the consciousness of the media and the entitled generation. Could be manipulated to coincide to begin peaking just in time for the 2012 campaign's summer tour. So again, the government picks a winner and loser and we, the people get hosed. They should relabel this as "the law of unintended consequences."
Barack Obama Posted October 7, 2011 Posted October 7, 2011 I'm amazed at just how juvenile and incompetent these people with tremendous power are. Who talks like this? Yes We Can!
Mike in Syracuse Posted October 9, 2011 Posted October 9, 2011 (edited) Unleash free enterprise and things will turn around. Will it be perfect? Of course not. But it will be the best for the most amount of people. And just imagine, being free without the government up your ass for something. I'm no fan of excessive regulation but "free enterprise" just finished destroying the world economy. Perhaps you missed all the discussion on derivatives, CDO's and credit default swaps? Perhaps we should just completely dissolve the SEC and judiciary and let lower Manhattan finish the job? Edited October 9, 2011 by Mike in Syracuse
DC Tom Posted October 9, 2011 Posted October 9, 2011 I'm no fan of excessive regulation but "free enterprise" just finished destroying the world economy. Perhaps you missed all the discussion on derivatives, CDO's and credit default swaps? Perhaps we should just completely dissolve the SEC and judiciary and let lower Manhattan finish the job? Not that you're overstating anything...
ieatcrayonz Posted October 9, 2011 Posted October 9, 2011 Just another example of the government picking winners and losers. From what I understand Durbin/Frank were influenced by lobbyists from Walmart and others who convinced them that the fees they paid to banks for Debit Card transactions should be reduced and capped. That's what the legislation did. Hey keep it quiet for a few weeks will ya? I'm starting a new company called Soloutdra which is the opposite of Solyndra so it has to be a win. Give me that government $$$$$$$.
Doc Posted October 9, 2011 Posted October 9, 2011 Hey keep it quiet for a few weeks will ya? I'm starting a new company called Soloutdra which is the opposite of Solyndra so it has to be a win. Give me that government $$$$$$$. Soldoutra would be a more appropriate name.
Mike in Syracuse Posted October 9, 2011 Posted October 9, 2011 Not that you're overstating anything... I'm not sure it's possible to overstate what's been going on for the last 20 years. The fact that no one forfeited their wealth or went to prison is astounding.
drinkTHEkoolaid Posted October 9, 2011 Posted October 9, 2011 Soldoutra would be a more appropriate name. Soldoutya or soldoutus are equally descriptive and accurate
Booster4324 Posted October 9, 2011 Posted October 9, 2011 Not that you're overstating anything... Umm where is he overstating things? Perhaps you want to blame homeowners again? Did that 6 percent of failed home ownership bring the world to a crashing halt?
Magox Posted October 9, 2011 Author Posted October 9, 2011 Umm where is he overstating things? Perhaps you want to blame homeowners again? Did that 6 percent of failed home ownership bring the world to a crashing halt? What does this or what Mike from S. said, have to with Dickhead Durbins' dumbass amendment? I'm no fan of excessive regulation but "free enterprise" just finished destroying the world economy. Perhaps you missed all the discussion on derivatives, CDO's and credit default swaps? Perhaps we should just completely dissolve the SEC and judiciary and let lower Manhattan finish the job? Nonsensical, poorly thought out, punitive populist pieces of legislation or regulations aren't the answer.
Booster4324 Posted October 9, 2011 Posted October 9, 2011 What does this or what Mike from S. said, have to with Dickhead Durbins' dumbass amendment? Nonsensical, poorly thought out, punitive populist pieces of legislation or regulations aren't the answer. It is PPP, these threads tend to ramble on a bit.
OCinBuffalo Posted October 9, 2011 Posted October 9, 2011 (edited) Nonsensical, poorly thought out, punitive populist pieces of legislation or regulations aren't the answer. This is the root cause, and is the exact same problem in health care. We keep talking in terms of macro swings.... "regulation vs. deregulation" "billions in spending increases vs. cuts" all or nothing, back and forth. It's ridiculous. We need smarter people, and certainly not the government employees in charge right now, to come up with smarter regulation methodology first, never mind regulations themselves. All to often the regulations that are currently imposed are about power, punishment, are short-sighted, rife with unintended consequences, and always about improving the position of the government employee.....and not about ensuring consumer protection, and protection of the economy as a whole. Edited October 9, 2011 by OCinBuffalo
DC Tom Posted October 9, 2011 Posted October 9, 2011 Umm where is he overstating things? The whole "it's all Wall Street's fault" thing. Perhaps you want to blame homeowners again? Did that 6 percent of failed home ownership bring the world to a crashing halt? Good. Now I don't have to repeat it, thanks.
Booster4324 Posted October 9, 2011 Posted October 9, 2011 The whole "it's all Wall Street's fault" thing. Good. Now I don't have to repeat it, thanks. bull ****, these idiots trading insecure loans did.
DC Tom Posted October 9, 2011 Posted October 9, 2011 bull ****, these idiots trading insecure loans did. "Trading insecure loans"? What is that even supposed to mean?
Booster4324 Posted October 9, 2011 Posted October 9, 2011 "Trading insecure loans"? What is that even supposed to mean? Credit default swaps. Perhaps I stumbled on the terminology, but you know what I meant. That was a far bigger issue than the actual defaults. Won't address that issue will you?
Mike in Syracuse Posted October 9, 2011 Posted October 9, 2011 (edited) The whole "it's all Wall Street's fault" thing. Good. Now I don't have to repeat it, thanks. Really, I don't recall laying this is all on Wall Street. Care to point out where I said that? There's plenty of blame to go around and a lot of enablers.Just follow the money! Edited October 9, 2011 by Mike in Syracuse
DC Tom Posted October 10, 2011 Posted October 10, 2011 Credit default swaps. Perhaps I stumbled on the terminology, but you know what I meant. That was a far bigger issue than the actual defaults. Won't address that issue will you? Actually, I have. Repeatedly. Do I need to repeat it yet again? Really, I don't recall laying this is all on Wall Street. Care to point out where I said that? There's plenty of blame to go around and a lot of enablers.Just follow the money! I'm no fan of excessive regulation but "free enterprise" just finished destroying the world economy. Perhaps you missed all the discussion on derivatives, CDO's and credit default swaps? Perhaps we should just completely dissolve the SEC and judiciary and let lower Manhattan finish the job?
Mike in Syracuse Posted October 10, 2011 Posted October 10, 2011 Actually, I have. Repeatedly. Do I need to repeat it yet again? Really Tom? You're smarter than this. At least I thought you were. Follow the money trail. It starts and ends in lower Manhattan but there's a lof of accomplices in this train robbery.
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