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    Release the Kracken! Total_Blender's Avatar
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    I thought that you "anti-federal reserve" folks were against the centralization of banking?

    I see this as a good thing because it will protect consumers by keeping their checking and savings separate from toxic assets like subprime mortgages. And it keeps the FDIC out of involvement in such calamities as well. So if/when an AIG type company were to crash it wouldn't cause a run on the banks.

    I know all of you guys have invested your savings into gold bars and crates of 7.62x39, so I guess this doesn't necessarily apply to you.

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    dbl secret probation mmmmpsi's Avatar
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    Quote Originally Posted by Total_Blender View Post
    I thought that you "anti-federal reserve" folks were against the centralization of banking?

    I see this as a good thing because it will protect consumers by keeping their checking and savings separate from toxic assets like subprime mortgages. And it keeps the FDIC out of involvement in such calamities as well. So if/when an AIG type company were to crash it wouldn't cause a run on the banks.

    I know all of you guys have invested your savings into gold bars and crates of 7.62x39, so I guess this doesn't necessarily apply to you.
    This isn't going to protect the customer from anything.. All it's going to do is pass the cost of this tax down to the customer who does banking with this bank..

    So what's next?? You're going to tax car companies in the U.S. on top of what they are already taxed on their income, just in case they might go bankrupt and then you can't get your car fixed under warranty??

    This is a REALLY REALLY bad idea which you can see the way the markets around the world are reacting to it and I can tell you the same reaction is seen as "What the hell is this guy doing attacking banks, is he not a capitalist?"

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    Quote Originally Posted by Total_Blender View Post
    I thought that you "anti-federal reserve" folks were against the centralization of banking?

    I see this as a good thing because it will protect consumers by keeping their checking and savings separate from toxic assets like subprime mortgages. And it keeps the FDIC out of involvement in such calamities as well. So if/when an AIG type company were to crash it wouldn't cause a run on the banks.

    I know all of you guys have invested your savings into gold bars and crates of 7.62x39, so I guess this doesn't necessarily apply to you.

    They're quoting the stock market as a gauge for success, c'mon now. Meanwhile savvy investors are picking up those panic shares as the idiots hand them over, I was chatting with some other investors about this the other day. Just like the Mass. election was supposed to send the stock market soaring.. I mean if the stock market reacts negatively it must be a bad idea right?

    Herbert Hoover didn't have the greatest presidential legacy but one of the best quotes I've heard came from him; the only problem with capitalism are capitalists. Greed will cloud rational judgement.

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    Moderator BanginJimmy's Avatar
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    Quote Originally Posted by tony View Post
    Just like the Mass. election was supposed to send the stock market soaring.
    Where do you get this tidbit from?



    BTW, the reason the stock market has been taking such a hit lately has more to do with some senators (from both sides) stalling on confirming Bernanke than anything else. Yes these new proposed taxes do weigh on many investors, but as of right now, its just a side note.


    And to those that think any corporation is going to eat this tax, you are kidding yourself. They will simply pass it on to customers and common stock holders, just like every other tax that is placed on them.

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    Release the Kracken! Total_Blender's Avatar
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    If you look at the graph at the bottom of the WSJ article posted earlier,you'll see that propeirtary trading accounts lor between 1 and 5% of total revenues of the big banks. So its not like they are making a lot of money at it anyway.

    Also, it doesn't attempt to ban proprietary trading, it just says that such institutions can't take federal money. I thought you guys were against bailouts for the companies that caused the problems by trading unscrupulously?

    I really don't see whats not to like here, unless you guys are in favor of hedge funds, mortgage backed securities, etc...

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    Proud to be Retrosexual Jaimecbr900's Avatar
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    Quote Originally Posted by Total_Blender View Post
    If you look at the graph at the bottom of the WSJ article posted earlier,you'll see that propeirtary trading accounts lor between 1 and 5% of total revenues of the big banks. So its not like they are making a lot of money at it anyway.

    Also, it doesn't attempt to ban proprietary trading, it just says that such institutions can't take federal money. I thought you guys were against bailouts for the companies that caused the problems by trading unscrupulously?

    I really don't see whats not to like here, unless you guys are in favor of hedge funds, mortgage backed securities, etc...
    You are probably burning a candle in your window in the hope that Air America comes back on the air.....right?

    You have no idea how Free Market and Banking and trickle down economics and Capitalist ideas work, do you? The limit of profits is strictly a Capitalist idea. The limit of profits will only cause large corporations to do two things: Pass down the losses to John Q. Public, and have them looking over the fence at the greener grass. Why do you think that companies out source? Is it because they "hate America" as Dems would have everyone believe? In reality it's because we have Gov't that doesn't offer the benefits other countries do to attract and keep big business, i.e. the job providers, in their back yard.

    Now, think about it from the stock holder's and decision makers in this world. If you run a multi-billion dollar business, and the Gov't just told you that next year they're going to MAKE YOU lose money out of the gate, what would YOU do? YOUR stock holders want answers, YOUR employees want answers, and more importantly YOUR job is on the line. What would YOU do?

    This country was originally founded by people who risked life and death to get away from oppressive Church and even more oppressive Gov't, yet we're going backwards to what?????

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    Quote Originally Posted by BanginJimmy View Post
    Where do you get this tidbit from?



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    Absolute blunder on my part, tanking was the more fitting term.

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    Gods Chariot Vteckidd's Avatar
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    Quote Originally Posted by Total_Blender View Post
    I thought that you "anti-federal reserve" folks were against the centralization of banking?

    I see this as a good thing because it will protect consumers by keeping their checking and savings separate from toxic assets like subprime mortgages. And it keeps the FDIC out of involvement in such calamities as well. So if/when an AIG type company were to crash it wouldn't cause a run on the banks.

    I know all of you guys have invested your savings into gold bars and crates of 7.62x39, so I guess this doesn't necessarily apply to you.
    You have no idea how banking works or the private sector so I don't out much faith in your statements
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    Release the Kracken! Total_Blender's Avatar
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    Quote Originally Posted by Vteckidd View Post
    You have no idea how banking works or the private sector so I don't out much faith in your statements
    Why don't you explain to me, then how having my bank involved in mortgage backed securities and other financial skullduggery is supposed to benefit me as a consumer. ?

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    Quote Originally Posted by Total_Blender View Post
    Why don't you explain to me, then how having my bank involved in mortgage backed securities and other financial skullduggery is supposed to benefit me as a consumer. ?
    why should I? Youre just going to say i get all my info from people with no sources and Glenn Beck.


    Many Banks DIDNT TAKE stimulus money or didnt NEED it but the GOVT made them take it anyway. Many banks that took money, had bad assets in their Investment sections not their ACTUAL banking division (where you keep your money). Most of them have paid the money back WITH INTEREST in less than 12 months.

    Now, they are going to be PENALIZED for trying to make a profit. Make no mistake about it, you can call it whatever you want, its about the govt telling you how much money you can make.

    Who do you think is going to be effected most by he 40% tax he wants? not the banks. itll be YOU in the terms of higher intrest rates, more bank fees, less loans, more fees to trade on wallstreet

    dont think fora second the banks will absorb a 40% tax on profits in their financial investment centers and just say "cost of doing business".
    This will KILL JOBs more by killing lending, loans, and passing MORE COST onto the consumer

    Ill post more when i get home, im late for an appt
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    Quote Originally Posted by Total_Blender View Post
    I thought that you "anti-federal reserve" folks were against the centralization of banking?

    I see this as a good thing because it will protect consumers by keeping their checking and savings separate from toxic assets like subprime mortgages. And it keeps the FDIC out of involvement in such calamities as well. So if/when an AIG type company were to crash it wouldn't cause a run on the banks.

    I know all of you guys have invested your savings into gold bars and crates of 7.62x39, so I guess this doesn't necessarily apply to you.
    TOXIC ASSETS ARE NOT REAL!!! it is nothing more than good old direvatives, credit default swaps, subprime mortgage backed sucurities which are all scams!!! they were invented by the bankers to make a killing and they pulled the plug a while back. if you want a one world bank go apply at the IMF and wait for the one world currency too. then you have no rights or constitution. read up on these things. toxic assets are manipulated on the books and equal 1.5 quadrillion, so how do we pay that off, we don't and the big banks win!!!

    AIG funnelled the money out the door to goldmans sachs and Mr geitner was a groomed puppet from that company.
    Check out my for sale threads!! 15" competition speakerbox, 1TB External hard drive, and plenty of car parts!!!

    I Need some WRX, 350Z, 240SX, Really any car owner to let me do R&D for Ground Kits, Please Let me See the layouts!!!

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