Warren tells the controversial truth

[Winehole23]

“We need two central changes,” she declared in December 2009. “Fix broken consumer-credit markets and end guarantees for the big players that threaten our entire economic system ... If we don’t get those two right, I think the game is over.” http://www.marketwatch.com/story/warren-tells-the-controversial-truth-2011-04-22?link=MW_story_popular

[Winehole23]

“We’re trying to make the price clear, the risk clear, and make it easy to compare products,” Warren said. “If banks can’t build a business model without fooling people about the price, or hiding the risks, or obfuscating the products so nobody can make any direct comparisons, they’ve got a problem.” ibid

[boutons_deux]

Bet on the financial sector, already agitating against Warren, and their Repug hitmen to block EW from CFPA.

[Winehole23]

GFY. I'm rooting for Ms. Warren.

[boutons_deux]

GFY. I'm rooting for her, too, but, GFY, this is UCA, where the financial sector now makes 40% of ALL Corporate-Americans' profits.

[Winehole23]

What lesson are we supposed to take from that, o wise oracle?

[boutons_deux]

the financial sector can/does buy Congress with less than the financial sector spends on paper clips, with an ROI of 1000%s.

[Winehole23]

Your grasp of the obvious is obvious.

Regulatory capture is a given. So you've reminded us ten thousand times. Effing hell, you talk about practically nothing else. We get the message.

[Winehole23]

Either draw your conclusions from the conclusions you've drawn, or let it rest. Your posting here is a tedious hell; the very least you could do is vary it a little.

[Viva Las Espuelas]

I was hoping this was about the Warren Commission. :depressed

[Winehole23]

Derail at will.

[MannyIsGod]

They're going to dance until the music stops playing and not a minute earlier. Those who are aware enough to notice what is actually happening will likely have a front row seat but a lot of good that will feel like when it all comes down.

[boutons_deux]

Banking Groups Stir Consumer Fears on Debit Card Regulations via Twitter

Banks have warned they may end debit card rewards, increase ATM fees, get rid of “free” checking, or limit the size of debit purchases, as we’ve noted. These threats have caused some consumers to rally against rules that could lower the costs of the goods they purchase.

Big banks also have made timely contributions to the campaign coffers of Sen. Jon Tester, the Montana Democrat who proposed the legislation to delay the rule. Here’s The Hill:

Six days after Tester introduced his legislation, which would delay implementation of the regulations by between 12 months and 18 months, executives at TCF Financial gave his campaign nearly $16,000 in contributions, including $9,000 from the company’s political action committee.

That same day, Tester received $500 contributions from two executives at Wells Fargo; $2,500 from Richard Davis, president and CEO of U.S. Bancorp, as well as $1,000 from the company’s political action committee; $1,000 from Bank of America’s PAC; and $1,500 from Discover Financial Services’ PAC.

A few days later, the American Bankers Association delivered a $5,000 contribution.

The banking industry and the merchants coalition have each hired more than a hundred former government officials to lobby for their interests, according to Sunlight Foundation.

All the lobbying has resulted in a good amount of spin. Some consumers still seem utterly confused about the regulation and about who would benefit.

“Keep the Government from taking more of our good hard earned money,” wrote one Twitter user. Wrote another: “I love my debit card because I am able to use MY money for things I need rather than pay for all those bank ceo ‘bonuses.’ ”

http://www.propublica.org/blog/item/banking-groups-stir-consumer-fears-on-debit-card-regulations-via-twitter

=========

Banks sowing FUD

[boutons_deux]

Wall Street Spending As Much To Undermine Dodd-Frank Regulations As It Spent Trying To Block Dodd-Frank


Wall Street and the financial industry spent more to lobby Washington in the first quarter of this year than a year ago when Congress was writing sweeping financial-overhaul legislation, according to a Wall Street Journal review of lobbying reports released Thursday. [...]

The disclosures show that 26 of the financial firms and trade associations that spent the most in 2010 collectively spent $27 million in the three months ending March 31, a 2.7% increase from the $26.3 million spent in the comparable period in 2010.

http://thinkprogress.org/2011/04/22/banks-spending-2011/

[CosmicCowboy]

Wall Street Spending As Much To Undermine Dodd-Frank Regulations As It Spent Trying To Block Dodd-Frank


Wall Street and the financial industry spent more to lobby Washington in the first quarter of this year than a year ago when Congress was writing sweeping financial-overhaul legislation, according to a Wall Street Journal review of lobbying reports released Thursday. [...]

The disclosures show that 26 of the financial firms and trade associations that spent the most in 2010 collectively spent $27 million in the three months ending March 31, a 2.7% increase from the $26.3 million spent in the comparable period in 2010.

http://thinkprogress.org/2011/04/22/banks-spending-2011/

You haven't heard of inflation? You didn't think the cost to buy congressional whores would go down, did you?

[Viva Las Espuelas]

Derail at will.

Frankly, it would interest me more.

If this wasn't stopped with the new administration or at least be one iota concerned then none of the same jackasses would still be in the mix trying to "fix" it. And I'm speaking not of this particular issue but the whole banking issue as a whole.

Oh, well. Back to derailing



Back. And to the left.












Back. And to the left.























Back.










And to the left.

[boutons_deux]

"wasn't stopped with the new administration"

surprised? financial sector owns all of DC. Barry hired two investment bankers as key aides.

[Viva Las Espuelas]

"wasn't stopped with the new administration"

surprised?

Tbh, I am. But hey, I should never underestimate the power of the hand that feeds you. I understand the politics of doing it, but demonizing the same people that you protect?..........




Barry hired two investment bankers as key aides.
hence my post