What the hell is this......right wing economic talking points day!!!!
People are so stupid and controlled by the media
by free2beme 29 Replies latest jw friends
-
-
free2beme
See, this is an awesome example of the ignorance caused by the media.
http://money.cnn.com/2009/06/09/news/companies/banks_tarp/
Notice, "ALLOWED to pay back." Have you ever heard of such Bull Shit. Could you imagine your credit card company sending you $5000 without asking, charging you interest and then telling you that you can not pay them back until they say so?
Honestly, I doubt the big banks give a shit if small account holders closes their accounts. Saves them money, as it takes $300 a year to insure and manage an account according to recent disclosures. If customers can not pay anything to the banks, and live in ignorance that the bank is making money of their small account. Have fun at the other banks, who!!!! Have said they will most likely do the same thing in some way or another. Basically, you will leave one of the banks now that charges this ... wait a few months, and the bank you went to will start raising their fees. Everyone is saying this in the economy, wall street and even today, Congress has now considered repealing the Durbin Amendment, as they see what is happening.
It does amaze me though, that people do not know how the TARP money was handled and how it was paid back. People actually think, ignorant people, that the banks still have that money and the US government made nothing off lending it. So ignorant!
I should add, I am not a Republican or Democrat, I think Bush was horrible and Obama is just as bad or worse. I doubt the United States government could do anything right and actually think our whole system is a mess of "Political Correctness" mixed with "Ignorance."
-
free2beme
I was just thinking ... I hope they can take all the money from the profits of corporations. That way, they create more jobs. Hummmmm .... would that work? No, but if I "OCCUPY" the thought long enough it might. LOL. So lame!
-
-
breakfast of champions
All I know is that from this point forward, I will use my CRITICAL THINKING SKILLS as I form opinions and make decisions on ANYTHING!
-
Mad Sweeney
What I always find interesting about JWN, is that no matter how much freedom we now have to speak our minds. There is always a poster or two that wants to be an elder and say, "Hey, I want to control this a bit and set guidelines."
and
I can see your kind of ignorant on TARP money, so I will educate you.
What I always find interesting about JWN is that no matter how much we discuss logic and reason and fallacies, people still show the world they've lost the argument by resorting to ad hominem attacks. Kudos on another failed JWN politics thread!
-
AGuest
Unfortunately, I have to disagree with you on a couple/few things, dear F2BM (peace to you!). Starting with your comment that:
While we did not event the products, did not pay for the security on our funds and did not pay the payroll and other business expenses to make these things.
First, actually, it is our deposits that DO pay for these things. Banks make money, dear one... but not on THEIR money: on ours. Yours and mine. They use [the value of] our deposits to procure interest, loans, etc. That's why a run on the bank is terrifying - if the bank had its own money IN the bank... they would have no problem. They would just let everyone come and take out their money, close their accounts... and no problem.
Second, banks are one of the giants behind credit and credit cards, etc., and because of them... well, your CASH isn't as good as it used to be. They have made it so that you NEED them: you NEED a bank account (and a checking even more than a savings... and NOW they're pushing direct deposit, even offering monetary incentives... because they can GET your money faster that way - don't have to wait for you to get around to depositing that check... OR waiting for it to clear (for them - 'cause they WILL hold it for a few days for YOU). You NEED credit. Who is responsible for GIVING you credit? Please don't say the mortgage company... because there is a bank behind the mortgage company.
the government tells all these big bad banks, "You can not make any more money of debt card fees, beyond what WE THE GOVERNMENT think is acceptable." Why, as Americans do we think that is okay?
I do. Here's why: because the government did indeed bail out quite a few banks. Including MY bank (formerly, Indymac Bank, then Indymac Federal Bank, now One West Bank). And please don't say the banks didn't ask for it; they either asked... or were at such risk of imploding they had NO choice. Seriously: I had to take several certification courses during 2008-2010 to handle the fallout of the mortgage/credit crises and such courses included a well-defined history of what took place... how... and who was at fault (primarily, the mortgage lending industry which consisted hugely of non-commerical banks). The banks made a LOT of money on bad mortgage deals... that they sold to Fannie Mae, et al. A LOT of money.
In addition, the banks have received HUGE amounts of money FROM the feds... to help folks stay in their homes (by modifying/refinancing mortgages, etc.). Were you aware, however, that banks have actually used something like less then 1% of that money TO help folks? Were you also aware that they are PAID... by the feds... for such modifications (i.e., if they rewrite a mortgage to conform more to the FMV... the feds PAY THE DIFFERENCE?). Did you know that many have already received that money... even though they aren't MAKING such modifications??
Now, it may be true that the BIG 3 didn't get taken over by the feds... but they are currently being SUED by the feds, along with others and many mortgage lenders (Countrywide, Wachovia, etc.). BofA, Wells Fargo, and Chase top the list.
What the government is attempting to do NOW... is prevent what occurred with banks like Security Pacific, Crocker, First National, and First Interstate... none of which exist today. You know, where banks started taking illegal advantage of their customers? You should look up what happened to them...
In closing, I must say that it blows my MIND... (1) how quickly some FORGET what has happened in history here, even in very recent (<25 years) history... AND (2) how many opine on matters when they've only part of the information.
You really should "Google" these banks... and the federal suits against them. You might be a bit more mad at THEM than you suspect... but you will certainly be a bit more enlightened. If your only source is the public media... you are cheating yourself out of information.
I hope this helps and, again, I bid you peace!
SA, on her own...
-
MrDarkKnight
If were not for big business I would not have a job or healthcare. If were not for the government the big business I work for would lose a large piece of business upon which my salary and bonuses are based. If were not for banks I would not have credit cards. None of these entities is inherently evil.
This may sound a little simplistic, but if we could somehow get it all to work together so that businesses could be profitable, people would have jobs and the government would have funding that they would then pour back into the private sector I think we would all be a bit happier.
But I guess if it were easy, anyone could do it!
-
free2beme
First, actually, it is our deposits that DO pay for these things. Banks make money, dear one... but not on THEIR money: on ours. Yours and mine. They use [the value of] our deposits to procure interest, loans, etc.
Yes, if you have a balance worth anything. Most people are lucky to have 1000 or less. As they live paycheck to paycheck. Banks do not want these accounts, as these are the ones losing money. Reading all the articles on the banks, it is a common thread. You make us primary, put amounts in your accounts that mean something and no fees. Otherwise, 'Good-bye, let someone else take the loss on you.' <no tears>. So many small balance accounts think they are of value, they're not. Which banks are making REAL CLEAR.
Argh! I want to pull my hair out. Research it yourself! Bush was worried the banks would fail and forced them to take the money, pay interest on it and not pay it back until they could prove they would not fail. Even though, they were saying they were fine. Want another thing to talk about, with big banks, that the lovely government did? Washington Mutual bank, was crashing. So the government basically made Chase buy them. Countrywide, who almost singlehanded crashed the mortgage market, was forced upon BofA. Same with Merrill Lynch, Leman Brothers, etc. All failing and being forced on the large banks. Now, they sue these banks for things these business did before take over. Yeah, that makes sense.
Now, about AIG. We all hate them, right? Well, they insure mortgages. Mortgage insurance required if you do not put down at least 20% on a loan. Something the government required, and AIG forms. Then, thanks to the bad loan practices of Countrywide, a President who did nothing to slow the home sales, and greed of the ordinary people. AIG was hit with more then they could take, so they got bailed out. I am not aware they have paid all their money back yet.
Another example, of our government putting their control in on a situation they might have had "Good intentions" with and ended up making a mess. Don't even get me started on the push to give minorities loans, when they could not afford. Or government is so broken, and we blame the businesses trying to do business in this country. Personally, I think businesses have a right to make money and a profit. I can choose to not buy their service, but it is very unfair to tell them what they can not charge. Also, socialism.
-
Cagefighter
Fractional Reserve Banking.....That's how they make money.
