Jun 17 2009
Obama: The Successes Mount, Big Banking Reigned In
Not feeling much like writing an article, I thought I would at least anger those on the right about our president. It seems the right wingers don’t like it when we lefties claim the successes of our president. Today, Obama managed to piss off the bankers by placing some much needed regulatory constraints on them. In a move to curtail the greed that drives the banking industry, banks are going to be placed under scrutiny to do the right thing. Mortgage and credit card language will have to written in terms everyone understands. No more fine print. I will now dedicate the rest of this space to those who will dissent. Thank you.
It’s truly a full time job defending Obama - people don’t think - they listen to madness and jump on the bandwagon - less energy required. You should read some of the comments I have received on My Space regarding race issues and Obama - unbelievable - but I keep writing, hoping to atleast get people to use their own brains. I get tired sometimes and have to back off but something inside keeps me writing my truths. Stay strong ndfense stay strong!!!
It’s a full time job defending any president or politician, no matter what their views may be. I think Obama is doing a fine job given the situation he is in. The desperation of the republican party calls for constant attacks while they hopelessly search for yet another leader and an agenda.
I’ve been known to dissent from time to time. I would say that Obama is doing what is the bare minimum. Banks have been runnig amok and the latest constraints on them are cosmetic. Banking is something we all have need/use of/for so if we really want to piss off bankers and or make meaningful change, democratize the entire industry and remove the profit motive. Why should we tollerate banks taking money from the fed at 1% or less and turning around and lending it to taxpayers at 20%, to hell with that. We are the fed who needs for profit banking? S&L scandal, bailouts and greed f’ all that banking is an essential industry and they use their power to usurp our taxes to make a profit, sounds like socialism for the rich. The only way to make bankers laugh is to show them hungry children. Forget about it, put them out of business.
That’s the point Harrison. Because most of us have to use banks to pay for these things, doesn’t mean we have to settle for being ripped off with extra high lending rates, backdoor dealings, second and third tier mortgages (when we qualify for first tier), and contract language only a lawyer understands. These banks have been operating unimpeded since the Reagan era and simply won’t do the right thing on their own. Even after they got govt money, they still continued down the wrong path. Now they have to be made to do the right thing. Incidentally, these are some of the same banks that wont lend money in inner cities, but that’s another issue. How can you have the nerve to defend big banking? Remember when one of the banks used the TARP money to buy up a competitor?