"5 Years Later, We've Learned Nothing From the Financial Crisis"

Discussion in 'Too Hot for Swamp Gas' started by philnotfil, Sep 13, 2013.

  1. Gatorrick22
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    Gatorrick22 Well-Known Member

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    Depends what your definition of "is" is. But, it's the Leftists that think they own the American lexicon. I say 'crony-Socialism' you say crony-Capitalism.
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  2. LittleBlueLW
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    LittleBlueLW Premium Member

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    If you tried to open an account with one of those'banks' riv, you couldnt because they are not that type of bank.
  3. rivergator
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    rivergator Well-Known Member

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    right. so?
    what exactly are you guys arguing here?
  4. LittleBlueLW
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    LittleBlueLW Premium Member

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    Just trying to help you out.
  5. GatorNorth
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    GatorNorth Premium Member Premium Member

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    It says "nor in money". Wasn't limited to bonuses from the way I read it. Seemed all inclusive.
  6. rivergator
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    rivergator Well-Known Member

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    right. All the conservatives who keep wanting to blamed it all on the CRA need to remember that it's been pointed out more than once that the majority of subprime loans were issued by institutions not under the CRA: Investment banks, non-banks and other private lenders.
    I don't know what "Yeah, well I don't care what anyone else calls them, I don't consider investment banks to be banks" adds to that conversation.
  7. LittleBlueLW
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    LittleBlueLW Premium Member

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    Well if youre trying to lump me in there, dont.

    But all banks aint the same nonetheless.
  8. G8trGr8t
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    G8trGr8t Premium Member

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    reinstate glass steagel
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  9. Gatorrick22
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    Gatorrick22 Well-Known Member

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    Since when is a base salary a 'perk?' Go back and re-read my original post #8. Additional money... as in perks. No one works for free, that should be a given.
  10. rivergator
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    rivergator Well-Known Member

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    i don't believe that's ever been the argument. no one said it and it has nothing to do with the issue of being subject to CRA.
  11. GatorNorth
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    I did reread it. The concept of "additional" is absent. Essentially you wrote "No CEO can receive one single dime in perks, nor in money, nor in stocks or other benefits if they lose money the prior year" if you meant something different you didn't say it. No biggie.
  12. Gatorrick22
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    Gatorrick22 Well-Known Member

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    I already said that word is missing.

    So what do you think of my proposal? Of course salary is not to be touched. Do you think it's worthy of consideration.
  13. T3goalie
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    T3goalie VIP Member

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    Sadly, the derivative horse is out of the barn....
  14. Gatorrick22
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    Gatorrick22 Well-Known Member

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    This is a good idea, banks are too big right now and this would shrink them by forcing large banks to spit-off many smaller specialized entities.
  15. MichaelJoeWilliamson
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    Most pure investment banks generally doe not make mortgage loans. An investment bank might package mortgage loans into bonds and derivatives, but they generally do not originate them.

    Any bank that is chartered by the FDIC, the OCC, the OTS or the FRB is subject to CRA rules. Even banks that have Investment Bank subs.

    Non-bank lenders do are not subject to CRA.

    Learn a bit about an industry before you continue to make a yourself look foolish
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  16. Swampmaster
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    Swampmaster New Member

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    The creators of the collapse walked with millions or billions--and are richer than ever
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  17. HallGator
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    HallGator Administrator VIP Member

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    It's looking more and more like Wall Street is as big a danger to American fiscal security as the government is. People playing fast and loose with money on the scale both of these entities do is a sure recipe for disaster. Our history should show this.
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  18. rivergator
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    rivergator Well-Known Member

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    wait a minute. this started with you claiming that investment banks weren't banks. and now you're doing exactly what?
  19. Gatorrick22
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    Gatorrick22 Well-Known Member

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    I'm sure the Leftists will blame Bush for that too.

    I hope you're wrong about another "disaster."
  20. MichaelJoeWilliamson
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    MichaelJoeWilliamson Well-Known Member

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    No. You started with the question about private banks. You asked, and I quote;

    "were private banks subject to the CRA? "

    No knowing exactly what you meant by "private bank," I made the assumption you were referring to federally insured banks that are privately held and not publicly traded. All federally insured banks, whether public or private, are subject to CRA.

    So, my answer was predicated on that question.

    Then you started referring to "Investment Banks." That is a different corporate animal than a federally insured bank, private or public.

    As I explained, a pure investment bank does not usually originate mortgage loans. They might package them into bonds and derivatives, but they do not underwrite or originate them.

    To be sure, some federally regulated banks have investment banking divisions. But mortgage lending is not typically done from those divisions. Even if the federally insured bank as an investment banking division, any mortgage lending done by the federally insured bank is subject to CRA regulations.

    Try and keep up.

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