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Space Bar
Joined: 20 Oct 2010
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 Posted: Mon Jan 03, 2011 6:29 am Post subject: Congress "there to serve the banks" |
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...according to the incoming GOP chairman of the House Banking Committee!
Regulators exist to �serve the banks,� next House finance chairman declares
By Sahil Kapur
Monday, December 13th, 2010 -- 3:25 pm
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Alabama Republican Spencer Bachus, the incoming chairman of the House banking committee, suggested Congress and federal regulators should play a subservient role with banks.
"In Washington, the view is that the banks are to be regulated, and my view is that Washington and the regulators are there to serve the banks," Bachus told The Birmingham News in an interview.
The Republican leadership last week designated Bachus the next chairman of the powerful House Financial Services Committee, which is tasked with overseeing banks, financial markets, housing and consumer credit. |
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Junior
Joined: 18 Nov 2005
Location: the eye
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| Posted: Mon Jan 03, 2011 5:45 pm Post subject: |
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What you are posting is shocking, Space Bar. It seems strange more people aren't outraged. Maybe people aren't taking in the implications of it all.
Americans always used to tell me "Oh we americans are the most free people in the world, nobody could ever take our freedoms. We wouldn't let them. We have guns." etc. yet now they are all sitting idly watching it happen.
There used to be masses of fervent Obama supporters on here. I wonder where they all went to. |
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mises
Joined: 05 Nov 2007
Location: retired
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caniff
Joined: 03 Feb 2004
Location: All over the map
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| Posted: Mon Jan 03, 2011 11:17 pm Post subject: |
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| Junior wrote: |
What you are posting is shocking, Space Bar. It seems strange more people aren't outraged. Maybe people aren't taking in the implications of it all.
Americans always used to tell me "Oh we americans are the most free people in the world, nobody could ever take our freedoms. We wouldn't let them. We have guns." etc. yet now they are all sitting idly watching it happen.
There used to be masses of fervent Obama supporters on here. I wonder where they all went to. |
You're right. sadly. I can't believe how different my country has become (over the span of a relatively few years) and even more sadly how too many Americans seem unaware of where things are heading.
You can point a finger at any number of reasons, but by any measure we better figure this one out PFQ. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Mon Jan 03, 2011 11:29 pm Post subject: |
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| caniff wrote: |
| Junior wrote: |
What you are posting is shocking, Space Bar. It seems strange more people aren't outraged. Maybe people aren't taking in the implications of it all.
Americans always used to tell me "Oh we americans are the most free people in the world, nobody could ever take our freedoms. We wouldn't let them. We have guns." etc. yet now they are all sitting idly watching it happen.
There used to be masses of fervent Obama supporters on here. I wonder where they all went to. |
You're right. sadly. I can't believe how different my country has become (over the span of a relatively few years) and even more sadly how too many Americans seem unaware of where things are heading.
You can point a finger at any number of reasons, but by any measure we better figure this one out PFQ. |
Not to be overly simplistic, but I reckon publicly financed elections would clean up quite a few of the major problems very quickly. Not all, but enough to buy some time. |
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caniff
Joined: 03 Feb 2004
Location: All over the map
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| Posted: Mon Jan 03, 2011 11:58 pm Post subject: |
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| Not to be overly simplistic |
It would be nice if the American public could also get down to basics, but it seems we no longer have any idea what that means.
(I hold out hope for "America", but our current incarnation isn't doing so well.) |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Tue Jan 04, 2011 12:05 am Post subject: |
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| (I hold out hope for "America", but our current incarnation isn't doing so well.) |
I moan about the government and such a hell of a lot, but the US still has much in her favor. |
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caniff
Joined: 03 Feb 2004
Location: All over the map
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| Posted: Tue Jan 04, 2011 1:10 am Post subject: |
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| mises wrote: |
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| (I hold out hope for "America", but our current incarnation isn't doing so well.) |
I moan about the government and such a hell of a lot, but the US still has much in her favor. |
Tiger? |
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visitorq
Joined: 11 Jan 2008
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| Posted: Tue Jan 04, 2011 4:43 am Post subject: |
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| caniff wrote: |
| Junior wrote: |
What you are posting is shocking, Space Bar. It seems strange more people aren't outraged. Maybe people aren't taking in the implications of it all.
Americans always used to tell me "Oh we americans are the most free people in the world, nobody could ever take our freedoms. We wouldn't let them. We have guns." etc. yet now they are all sitting idly watching it happen.
There used to be masses of fervent Obama supporters on here. I wonder where they all went to. |
You're right. sadly. I can't believe how different my country has become (over the span of a relatively few years) and even more sadly how too many Americans seem unaware of where things are heading.
You can point a finger at any number of reasons, but by any measure we better figure this one out PFQ. |
This stuff makes me apoplectic... But I can't really muster the energy to write a 10 page polemic against the criminals who have *ruined* our country, every time I read about in the news (ie. daily). I care deeply about America, but it is so crummy there right now that I just can't see myself going back for the time being... Better just to keep refuge in Asia (making money and having at least some opportunity) than to go back and get yelled at/molested/body scanned by some petty, power tripping scum at the airport, having to eat GMO crud from Wall Mart etc etc... |
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AsiaESLbound
Joined: 07 Jan 2010
Location: Truck Stop Missouri
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| Posted: Tue Jan 04, 2011 6:10 am Post subject: |
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Sure they have to protect the banks as to protect the country system, but to protect the country system, they also need to protect and promote the economic interests of the citizenry. They've failed at protecting domestic economic interests out of not playing policies the same as other countries do. This involves import tariffs as to promote domestically produced goods, restricting foreigners to own only 49% share of any real estate, and enforcing all the same rules applied to Americans doing business overseas; not a laizze faire free for all like we have after the baby boomers sold us the globalization is good for us garbage. The baby boomer generation accomplished many great things in liberalizing our world, but they took it too far and sold us out by promoting laizze faire policy. The biggest national security threat is economic related; not terrorists.
To win or at least stay in the game, you have to play hard like everyone else; not just give them the ball like we did. Most of us blame the US government for allowing a big fleecing of our countries wealth. To get jobs to come back, the US government will have to discourage US companies doing business overseas and make it where imports are too expensive. No longer are companies, brands, and technologies dependent on Americans; Asia has risen so the deal is sealed and the 21st century belongs to what were under developed countries just a decade or two ago. All the shiny new stuff in Asia is largely a result of wealth leaving the West though the physical stuff Asia's current boom is made of newly harvested resources. With money, resources, and opportunity all being limited in a world experiencing a huge population boom, it's a zero sum game; not one offering unlimited points to score. |
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Space Bar
Joined: 20 Oct 2010
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| Posted: Tue Jan 04, 2011 8:41 am Post subject: |
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double post
Last edited by Space Bar on Wed Jan 05, 2011 9:39 am; edited 3 times in total |
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Space Bar
Joined: 20 Oct 2010
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| Posted: Tue Jan 04, 2011 8:42 am Post subject: |
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| mises wrote: |
| caniff wrote: |
| Junior wrote: |
What you are posting is shocking, Space Bar. It seems strange more people aren't outraged. Maybe people aren't taking in the implications of it all.
Americans always used to tell me "Oh we americans are the most free people in the world, nobody could ever take our freedoms. We wouldn't let them. We have guns." etc. yet now they are all sitting idly watching it happen.
There used to be masses of fervent Obama supporters on here. I wonder where they all went to. |
You're right. sadly. I can't believe how different my country has become (over the span of a relatively few years) and even more sadly how too many Americans seem unaware of where things are heading.
You can point a finger at any number of reasons, but by any measure we better figure this one out PFQ. |
Not to be overly simplistic, but I reckon publicly financed elections would clean up quite a few of the major problems very quickly. Not all, but enough to buy some time. |
And how about stop giving corporations the same rights as people, e.g. as far as election contributions? |
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Kuros
Joined: 27 Apr 2004
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| Posted: Tue Jan 04, 2011 8:55 am Post subject: |
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| There are like a half dozen threads devoted to this, including the mammoth Depression Thread |
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Koveras
Joined: 09 Oct 2008
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| Posted: Tue Jan 04, 2011 9:11 am Post subject: |
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| Kuros is with the banks! Get him! |
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Privateer
Joined: 31 Aug 2005
Location: Easy Street.
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| Posted: Tue Jan 04, 2011 10:14 pm Post subject: |
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This problem is not new but it's more visible now. The size of the bailout makes it obvious to everyone that something is rotten at the top - or from the top down.
Unfortunately the problem is systemic which means financial crises are bound to occur periodically and to keep getting worse. The Savings and Loan crisis of the 80s was bad enough; the current financial crisis is even worse; the next one may be beyond anyone's power to fix.
And people still believe in neoliberal, free market mumbo jumbo. |
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