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| Topic: banks have to pay it all back | |
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Businesses aren't stupid....cost go up....consumers PAY. Businesses that ARE stupid and who can't rely on the principle of Moral Hazard to pass the price for their stupidity onto consumers get eaten alive by their competition. Their bones are left for the vultures who buy dead businesses like Polaroid for the brand names. Their competitors don't have to pay the Dunce Tax and can therefore get and keep customers the old-fashioned way-- better service and lower prices. The investment banking business has continually sought to put the watchdogs to sleep under presidents like GWB so they could form a more effective cartel to shakedown the American people a flea bite at a time. How much of the banks debt is at 30%? It's a drop in the bucket when you consider all the home loans, commercial loans, etc. So maybe when the banks raise your home loan to 30% you will have a valid argument as to chargin the banks 30% for bailout monies that many have paid back. Well, I don't have a home loan, I pay what little I charge on credit cards within the 30 day grace period. And my argument IS logically consistent-- borrowers with awful financials have always been forced to pay the highest interest rates the law allows. Yet people who worked hard all their lives but become beset by terrible illnesses have their savings drained and become paupers for NO FAULT OF THEIR OWN have to pay these kind of rates. Yet, the same soulless Suits who appear before Congress to justify their greedy behaviours were the SAME people who had their lobbyists before Congress to lobby for changes in the usuary and bankruptcy laws that allowed a little relief for the unfortunate. Seems to me, if you want to talk about American fairness, that would be a good place to start. What about the banks that were forced to take the bailout monies? Now here is the killer - How in the world, if the banks were in such bad shape did they manage to pay most of the bailout money back so quickly? Lots of reasons-- less competition, the TARP program funded AIG to make good on some of its credit default swaps to some of these banks, the high interest rates they charge on some forms of consumer debts and the FEDs giving them money at almost zero percent interest for them to collect on the spread. Not to mention a ton of layoffs, as well. Banks are just enemy # 1 now for the American people...kinda like the oil companies were shortly ago...Obama goes after the banks...oh my, all of a sudden he's more popular.... So who is really to blame? Congress and the Feds keeping interest rates too low. Yeah well, the banks can't blame all their troubles on Obama like most of his hardcore detractors do. It's not like they weren't VERY complicit in their own downfalls. So let's ask everyone to reach real deep and write a check today to the Save the Bankers Foundation. Your generous donation will help a Fat Cat keep his Gulfstream and avoid the indignity of having to fly commercial. -Kerry O. |
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Edited by
InvictusV
on
Sat 01/16/10 05:57 AM
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“Using tax policy to punish people is a bad idea,” Jamie Dimon, the chief executive of JPMorgan, said yesterday. “All businesses tend to pass their costs on to customers.” How convenient. Most businesses don't have the luxury of having moral hazard work in their favor like the 'Too Big To Fail' banks. Mr. Dimon and his ilk have ALREADY passed on their _losses_ ( or should we say *cough* "costs") to us. Personally, I think they should be given a taste of their own medicine and have to pay the money back at APR's of 30% like the worst of the worst in the credit card game. Not to mention having the Glass-Steagall act re-instated and being mandated to appear in sackcloth and ashes for future bailouts. -Kerry O. This may be the first time I agree with you. |
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Businesses aren't stupid....cost go up....consumers PAY. Businesses that ARE stupid and who can't rely on the principle of Moral Hazard to pass the price for their stupidity onto consumers get eaten alive by their competition. Their bones are left for the vultures who buy dead businesses like Polaroid for the brand names. Their competitors don't have to pay the Dunce Tax and can therefore get and keep customers the old-fashioned way-- better service and lower prices. The investment banking business has continually sought to put the watchdogs to sleep under presidents like GWB so they could form a more effective cartel to shakedown the American people a flea bite at a time. How much of the banks debt is at 30%? It's a drop in the bucket when you consider all the home loans, commercial loans, etc. So maybe when the banks raise your home loan to 30% you will have a valid argument as to chargin the banks 30% for bailout monies that many have paid back. Well, I don't have a home loan, I pay what little I charge on credit cards within the 30 day grace period. And my argument IS logically consistent-- borrowers with awful financials have always been forced to pay the highest interest rates the law allows. Yet people who worked hard all their lives but become beset by terrible illnesses have their savings drained and become paupers for NO FAULT OF THEIR OWN have to pay these kind of rates. Yet, the same soulless Suits who appear before Congress to justify their greedy behaviours were the SAME people who had their lobbyists before Congress to lobby for changes in the usuary and bankruptcy laws that allowed a little relief for the unfortunate. Seems to me, if you want to talk about American fairness, that would be a good place to start. What about the banks that were forced to take the bailout monies? Now here is the killer - How in the world, if the banks were in such bad shape did they manage to pay most of the bailout money back so quickly? Lots of reasons-- less competition, the TARP program funded AIG to make good on some of its credit default swaps to some of these banks, the high interest rates they charge on some forms of consumer debts and the FEDs giving them money at almost zero percent interest for them to collect on the spread. Not to mention a ton of layoffs, as well. Banks are just enemy # 1 now for the American people...kinda like the oil companies were shortly ago...Obama goes after the banks...oh my, all of a sudden he's more popular.... So who is really to blame? Congress and the Feds keeping interest rates too low. Yeah well, the banks can't blame all their troubles on Obama like most of his hardcore detractors do. It's not like they weren't VERY complicit in their own downfalls. So let's ask everyone to reach real deep and write a check today to the Save the Bankers Foundation. Your generous donation will help a Fat Cat keep his Gulfstream and avoid the indignity of having to fly commercial. -Kerry O. I believe that congress is as responsible for whats happening now as the bankers who paid them off . OH I MEAN DONATED TO THERE REELECTION . |
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the reason the banks are doing so well right now is because WE THE PEOPLE OF THIS COUNTRY BOUGHT THERE BAD DEBTS . WE HAVE TO PAY FOR THERE CRIMES . WE HAVE TO WORK LIKE DOGS TO SAVE THEM . do you know that morgan stanley only had to pay taxes on approximately one million dollars . That means you paid there fair share ... don't you proud of it ...
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I wonder if Gordon Brown and the greedy fat cat financiers of the United Kingdom are taking notice? The United Kingdom gave in to these legal pirates time and time again, the poor tax payers rescued these greedy miscreants when they sent the British economy **** up YET, they were not ashamed to pay themselves mega bonuses for leading us all over a cliff............And still they are demanding more. Bank charges are set to rise so we could keep them in the style they have become accustomed to!!!!
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Businesses aren't stupid....cost go up....consumers PAY. Businesses that ARE stupid and who can't rely on the principle of Moral Hazard to pass the price for their stupidity onto consumers get eaten alive by their competition. Their bones are left for the vultures who buy dead businesses like Polaroid for the brand names. Their competitors don't have to pay the Dunce Tax and can therefore get and keep customers the old-fashioned way-- better service and lower prices. The investment banking business has continually sought to put the watchdogs to sleep under presidents like GWB so they could form a more effective cartel to shakedown the American people a flea bite at a time. How much of the banks debt is at 30%? It's a drop in the bucket when you consider all the home loans, commercial loans, etc. So maybe when the banks raise your home loan to 30% you will have a valid argument as to chargin the banks 30% for bailout monies that many have paid back. Well, I don't have a home loan, I pay what little I charge on credit cards within the 30 day grace period. And my argument IS logically consistent-- borrowers with awful financials have always been forced to pay the highest interest rates the law allows. Yet people who worked hard all their lives but become beset by terrible illnesses have their savings drained and become paupers for NO FAULT OF THEIR OWN have to pay these kind of rates. Yet, the same soulless Suits who appear before Congress to justify their greedy behaviours were the SAME people who had their lobbyists before Congress to lobby for changes in the usuary and bankruptcy laws that allowed a little relief for the unfortunate. Seems to me, if you want to talk about American fairness, that would be a good place to start. What about the banks that were forced to take the bailout monies? Now here is the killer - How in the world, if the banks were in such bad shape did they manage to pay most of the bailout money back so quickly? Lots of reasons-- less competition, the TARP program funded AIG to make good on some of its credit default swaps to some of these banks, the high interest rates they charge on some forms of consumer debts and the FEDs giving them money at almost zero percent interest for them to collect on the spread. Not to mention a ton of layoffs, as well. Banks are just enemy # 1 now for the American people...kinda like the oil companies were shortly ago...Obama goes after the banks...oh my, all of a sudden he's more popular.... So who is really to blame? Congress and the Feds keeping interest rates too low. Yeah well, the banks can't blame all their troubles on Obama like most of his hardcore detractors do. It's not like they weren't VERY complicit in their own downfalls. So let's ask everyone to reach real deep and write a check today to the Save the Bankers Foundation. Your generous donation will help a Fat Cat keep his Gulfstream and avoid the indignity of having to fly commercial. -Kerry O. I believe that congress is as responsible for whats happening now as the bankers who paid them off . OH I MEAN DONATED TO THERE REELECTION . Apparently Chris Dodd saw the handwriting on the wall for his role in this mess and quit while he was ahead. Good riddance, I say. -Kerry O. |
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I wonder if Gordon Brown and the greedy fat cat financiers of the United Kingdom are taking notice? The United Kingdom gave in to these legal pirates time and time again, the poor tax payers rescued these greedy miscreants when they sent the British economy **** up YET, they were not ashamed to pay themselves mega bonuses for leading us all over a cliff............And still they are demanding more. Bank charges are set to rise so we could keep them in the style they have become accustomed to!!!! I hate to think it, but I suspect if this continues, history will note the fall of New York and London as money centers and see the rise of Far East institutions to supplant them. It will become an act of financial self-defense. -Kerry O. |
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the 30% you are going to pay on your cc's is good for the country right ????? you paying for all the bad debts they run up and we had to buy ??? thats bad for the country right ??? the bonuses they paid each other for convincing us to buy there loses at a no discount price .... is that what is going to make them turn chinese . I don't thing we would be that lucky , nor are the chinese that stupid . why would any country want those people do you think they wouldn't do this to the others ?
But a very smart person named PAUL VOLKER says that is a very smart thing that OBAMA IS going to do and the banks well be a lot safer .....I don't under stand why people presume that people with money are automatically smart .... WHY?40% of the richest people in the usa are high school drop outs . that's not to say there not smart but to say why do you think the ones with a high school diploma are so smart . |
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Businesses aren't stupid....cost go up....consumers PAY. Businesses that ARE stupid and who can't rely on the principle of Moral Hazard to pass the price for their stupidity onto consumers get eaten alive by their competition. Their bones are left for the vultures who buy dead businesses like Polaroid for the brand names. Their competitors don't have to pay the Dunce Tax and can therefore get and keep customers the old-fashioned way-- better service and lower prices. The investment banking business has continually sought to put the watchdogs to sleep under presidents like GWB so they could form a more effective cartel to shakedown the American people a flea bite at a time. How much of the banks debt is at 30%? It's a drop in the bucket when you consider all the home loans, commercial loans, etc. So maybe when the banks raise your home loan to 30% you will have a valid argument as to chargin the banks 30% for bailout monies that many have paid back. Well, I don't have a home loan, I pay what little I charge on credit cards within the 30 day grace period. And my argument IS logically consistent-- borrowers with awful financials have always been forced to pay the highest interest rates the law allows. Yet people who worked hard all their lives but become beset by terrible illnesses have their savings drained and become paupers for NO FAULT OF THEIR OWN have to pay these kind of rates. Yet, the same soulless Suits who appear before Congress to justify their greedy behaviours were the SAME people who had their lobbyists before Congress to lobby for changes in the usuary and bankruptcy laws that allowed a little relief for the unfortunate. Seems to me, if you want to talk about American fairness, that would be a good place to start. What about the banks that were forced to take the bailout monies? Now here is the killer - How in the world, if the banks were in such bad shape did they manage to pay most of the bailout money back so quickly? Lots of reasons-- less competition, the TARP program funded AIG to make good on some of its credit default swaps to some of these banks, the high interest rates they charge on some forms of consumer debts and the FEDs giving them money at almost zero percent interest for them to collect on the spread. Not to mention a ton of layoffs, as well. Banks are just enemy # 1 now for the American people...kinda like the oil companies were shortly ago...Obama goes after the banks...oh my, all of a sudden he's more popular.... So who is really to blame? Congress and the Feds keeping interest rates too low. Yeah well, the banks can't blame all their troubles on Obama like most of his hardcore detractors do. It's not like they weren't VERY complicit in their own downfalls. So let's ask everyone to reach real deep and write a check today to the Save the Bankers Foundation. Your generous donation will help a Fat Cat keep his Gulfstream and avoid the indignity of having to fly commercial. -Kerry O. Too bad the government didn't allow more Lehman lessons so some people could figure it out. If Bank of America or Citigroup had been allowed to go under, most Americans would be unemployed. |
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After reading several of this post I’ve come to the conclusion that these authors are a couple clicks above walking and chewing gun at the same time.
Lenders are the absolute scum of the earth. Several months ago I read about a woman, an illegal alien, who worked in a window factory in Chicago at minimum wage and went home to a quarter of a million dallier home. No lender would have made her the loan. Her lender had to be black mailed into it by Democrats and this is what the little brown squirrel is trying to lie the Democrats out of. |
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Fork over them Franklins, Biotches!!
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Businesses aren't stupid....cost go up....consumers PAY. Businesses that ARE stupid and who can't rely on the principle of Moral Hazard to pass the price for their stupidity onto consumers get eaten alive by their competition. Their bones are left for the vultures who buy dead businesses like Polaroid for the brand names. Their competitors don't have to pay the Dunce Tax and can therefore get and keep customers the old-fashioned way-- better service and lower prices. The investment banking business has continually sought to put the watchdogs to sleep under presidents like GWB so they could form a more effective cartel to shakedown the American people a flea bite at a time. How much of the banks debt is at 30%? It's a drop in the bucket when you consider all the home loans, commercial loans, etc. So maybe when the banks raise your home loan to 30% you will have a valid argument as to chargin the banks 30% for bailout monies that many have paid back. Well, I don't have a home loan, I pay what little I charge on credit cards within the 30 day grace period. And my argument IS logically consistent-- borrowers with awful financials have always been forced to pay the highest interest rates the law allows. Yet people who worked hard all their lives but become beset by terrible illnesses have their savings drained and become paupers for NO FAULT OF THEIR OWN have to pay these kind of rates. Yet, the same soulless Suits who appear before Congress to justify their greedy behaviours were the SAME people who had their lobbyists before Congress to lobby for changes in the usuary and bankruptcy laws that allowed a little relief for the unfortunate. Seems to me, if you want to talk about American fairness, that would be a good place to start. What about the banks that were forced to take the bailout monies? Now here is the killer - How in the world, if the banks were in such bad shape did they manage to pay most of the bailout money back so quickly? Lots of reasons-- less competition, the TARP program funded AIG to make good on some of its credit default swaps to some of these banks, the high interest rates they charge on some forms of consumer debts and the FEDs giving them money at almost zero percent interest for them to collect on the spread. Not to mention a ton of layoffs, as well. CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC Banks are just enemy # 1 now for the American people...kinda like the oil companies were shortly ago...Obama goes after the banks...oh my, all of a sudden he's more popular.... So who is really to blame? Congress and the Feds keeping interest rates too low. Yeah well, the banks can't blame all their troubles on Obama like most of his hardcore detractors do. It's not like they weren't VERY complicit in their own downfalls. So let's ask everyone to reach real deep and write a check today to the Save the Bankers Foundation. Your generous donation will help a Fat Cat keep his Gulfstream and avoid the indignity of having to fly commercial. -Kerry O. Too bad the government didn't allow more Lehman lessons so some people could figure it out. If Bank of America or Citigroup had been allowed to go under, most Americans would be unemployed. I heard that Lehman didn't get the money because they had made someone mad in the white house . before the country went to hell . KARMA i guess . |
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