Bankers Owe American Workers, It's Time to Pay

[terryh]

Ill take it! Gimme!

[n7hn]

B of A had some announcement...Im sure it wont solve the debate but here it is.

http://blogs.consumerreports.org/mon...borrowers.html

I think the "default" requirement will just encourage missed payments, but at least its a step towards what I think needs to happen, but on a broader scale.

[Bullet]

I am sure glad ridgeabilly didn’t blame the government for any of this mess. I’m just curious: how much money will be put into my pocket if all demands are met of the banks? A dollar? Two? A hundred perhaps? A million billion? I just want to know because I am not going to show up at any rally and protest my ass off and not get any money for my time. Nor will I show up if someone else gets the money I protested for. The answer is to get rid of the banks! That’s right: get rid of the bastards and let the GOVERNMENT be the bank! You can even have direct deposit, and low, low interest rates. I feel wealthier already!

[Jimaz]

I do recall reading a story from several months back that bankers were quietly beefing up their personal security for fear of retaliation. Haven't heard much about that since.

I have read continuing confirmations that banks accepted bailouts, paid extravagant executive bonuses but then neglected to issue loans that the bailouts were intended to enable ... and they're continuing to make the same risky investments that triggered the whole fiasco.

The complacency of the citizenry is very puzzling under these circumstances.

[9mile&seneca]

The banks were forced by the government to give loans to people that they knew could not repay. Now bankers are getting bonuses for the profit they make by taking 0% interest loans from the G and buying 2% Government bonds. Sounds like a whacky,zany kind 'o country ta me...

[Bullet]

9mile! That’s crazy talk! This would mean we should protest the government first, and then the banks? Why do you suppose we are asked to demand reparations from the banks and not the government? Because the banks have money, and the government is fucking broke beyond repair?! Wake up America. No, as a matter of fact don’t wake up. You are better off sleeping and thinking this is all a bad dream.

[oladub]

The banks were forced by the government to give loans to people that they knew could not repay. Now bankers are getting bonuses for the profit they make by taking 0% interest loans from the G and buying 2% Government bonds. Sounds like a whacky,zany kind 'o country ta me...

The Federal Reserve should enter this discussion. The Fed is owned by the largest banks and prints imaginary money which it lends to it's owner banks for about 1%. Those banks, in turn, loan much of their newly printed Federal Reserve notes to the federal government to pay for unpopular wars, vote buying programs, and whatever else it chooses for 4-5% interest. The federal government charges the interest to US taxpayers. The banks have to provide lots of money to political campaigns to maintain the integrity of this scam. President Obama, for instance, recieved almost $1m in contributions just from Goldman-Sachs. Goldman-Sachs is rewarded by the appointment of it's employees in high administrative positions. Yes, this happened during Bush's administration too. I wish I had a printing press in my basement.

The House recently passed HR 1207 which would have an independent agency audit the Fed. On the Democrat side it was supported by Kucinich and Grayson among others. Bernie Sanders is the Senate sponsor of S. 603. However, the resistance to an audit has stiffened in the Senate where the majority of Republicans and Democrats oppose transparancy of the Fed. The always corrupt Senator Dodd is the point man for the bankers in the Senate.

Meanwhile, President Obama and Senator Dodd have provided a solution to regulate the banks. The Fed will be put in charge of establishing new bank regulations.

[9mile&seneca]

Great civics lesson oladub. Thanks. Another point regarding the banks giving money to the distinguished genemen is that they got a law passed in the late 70's or early 80's whereby if they serve two terms they can retire and keep whatever's left in the old war chest. [[bribes from banks and insurance companies)

[ghettopalmetto]

Treasury says it will begin selling Citi shares





The Associated Press
Monday, March 29, 2010; 11:15 AM

NEW YORK -- The Treasury Department said Monday it will begin selling the stake it owns in Citigroup Inc., which could result in a profit to the government of about $7.5 billion.

http://www.washingtonpost.com/wp-dyn...=moreheadlines

[Jimaz]

Chomsky: Obama is ‘delivering, but for financial institutions’

The nature of the current recession has made it clear to most Americans that a new wave of financial reforms is necessary to prevent another crash. MIT professor Noam Chomsky alleged that the Democratic establishment's reluctance to reestablish post-Depression type regulations is reflective of the systemic constraints on policy in America's "dysfunctional democracy."

Chomsky, who has written many books detailing the perils of corporate influence in politics, said in an interview that the president and his party are hamstrung by fears that banks will punish them if they implement policies that do not satisfy the industry's desires....

[Sstashmoo]

Quote: "Chomsky, who has written many books detailing the perils of corporate influence in politics, said in an interview that the president and his party are hamstrung by fears that banks will punish them if they implement policies that do not satisfy the industry's desires...."

Punish them how? He is essentially saying the banks are holding the Government hostage. Sure seems like something is. A nine year old can see the catastrophe our trade situation is causing and yet, they look the other direction. What gives?

[Papasito]

What gives?

what gives is our representative government does not put it's citizens first.
Americans should come before the rest of the world when it comes to the priorities of our elected officials, and it is obvious by what has happened to our nation over the last 30-40 years that this is not the case.

[maxx]

http://www.independent.ie/business/w...t-1250849.html

Dan Sadek and Quick Loans were discussed in CNBC's report, "House of Cards."

[TKshreve]

http://www.independent.ie/business/w...t-1250849.html

Dan Sadek and Quick Loans were discussed in CNBC's report, "House of Cards."

A very interesting case study of where this all started. Makes you want to shoot somebody.