Hillary Clinto May Break Up Big Banks If Needed

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I didn't think banks have ever operated entirely free of the federal government as a free market entity in my understanding since they are responsible for storing money/distributing it and whatever all banks do...Just not sure 'free market' applies when it comes to banks as I thought they where more or less partially a government institution rather than a regular business.

But I could be wrong, that was just my impression.

Ok one more thing to say before I check out other threads....

Use a credit union, screw banks.

So we should wake up and smell the coffee and start voting democrat? And what do the democrats do but throw money at the poor as if it grows on trees and do whatever they can to hamper free enterprise? Not to mention that some of thier values we find repugnant.

There's more to living than getting free stuff.

1. The onus is on the borrower to take out only a loan that they can afford to pay. That doesn't mean just barely afford but something they might still be able to afford if things go to s**t for a while. Don't live beyond your means.
2. In most cases only an idiot would sign up to an adjustable rate mortgage.


Got a link to that story? I'd find it hard to understand how a bank could foreclose on a mortgage they don't hold. Mortgage companies can and do sell mortgage to other lenders but that's common practice and the interest rate and terms remain the same.

You're old buddy Khoaz said we we're all trolls with no integrity so maybe that's it. I don't give a s**t about banks but they are a necessary evil in our economy. They key for "the little guy" is to tread carefully and not bite off more than they can chew. If they are not careful it's them that gets f****d, not the bank.

That is a lot of words you're putting in my mouth, there is a lot I dislike about the democratic party to. Also they don't throw money at the poor like it grows on trees, if they did that then the poor would be living much more lavish lifestyles, but yes they do, do a better job than the conservatives at maintaining some form of social safety network to help the poor and disabled which is an important aspect of maintaining the infrastructure. Seems a lot of the conservatives would rather gut that system and replace it with a non-system and then ignore the issue of poverty.

And I find some conservative values like trying to legislate religious morality and valuing people solely on how much money they have or don't have to be quite distasteful.

There is more to life than $$$$$$ and rugged individualism.

Did you ever consider the possibility that the banks were and are dishonest, and that they had taken advantage of people who lacked the education to understand what was offered them?
Incidentally, the reason why there are all those regulations that you conservatives despise is because industry - including the banking industry - screws over people on a regular basis. The thing is, the little guy expects banks - and all other industry - is going to play fair, just like regular people do. You say, the little guy needs to "tread carefully," but if the banks were at all honest - which they're not - they wouldn't have to. It so happens that George W. had convinced the little guy that all that "ownership society bullsh*t was real, and so expected the banks to deal honestly.

Indeed, my wife and I bank at a credit union.

There's things I don't like about the GOP, too. What I meant by throwing money at the poor like it grows on trees is that there's too much hand out and not enough hand up. We've been over all this before...

You still haven't told me the details on those banks that tried to foreclose on property they weren't carrying the mortgages on. What are you waiting for? The rest is pretty much regurgitation of what you already said so I'll reciprocate in kind.

Most pf the people I know have taken out mortgages and so have I. I've never heard of any of them honestly getting screwed by the lender. It's typically a fairly simple process, albeit one with a lot of paperwork. You do a little bit of shopping around and a little homework then do it. If you don't have the intelligence to do that it just wasn't meant to be.

If you need the government to hold your hand you're not ready to be a homeowner or even an adult. If you act like a kid in a candy store with credit you're not ready to be a homeowner. If you don't know your limitations with some foresight as to what the future may hold (or may not hold) and plan accordingly your not ready to be a homeowner. If you're not willing to make adjustments in order to pay the monthly mortgage and just want to spend and play like a 12 year old then you're not ready to be a homeowner.

The bank aint your momma it's a service provider and like any service provider you'll do well to be careful about how you tread with them. You want the government to enact laws for everything but what you forget is that the ones the benefit the most from that (by far) are attorneys, some of the greediest and unprincipled MF'er to ever walk the face of the earth. The only thing the little guy gets by comparison is the occasional table scrap and I don't see much justice there.

I can't make it much simpler.

In fact Bank Of America had tried to foreclose on a couple, and also a rather odd man with vampire teeth cosmetically installed, none of whom had ever taken out a mortgage. Rather than admitting either case was a mistake, they took these people to court. In both cases, when the judgement was against Bank Of America, and was ordered to pay punitive charges, the bank refused. And in both cases, the local police carried out the judgement by seizing everything not nailed down at the local bank from where the foreclosure was issued. I saw the story about the couple on CNN, while the vampire guy was showcased on a story on The Dailyshow, much to the cheers of the audience when the cops carried out the judgement.
As for mortgages being easy and such - again, we're talking about impoverished people, most of whom are not well educated, but were encouraged by George W to own their own homes. Predatory lenders like Bank Of America took advantage of them with the full intent of foreclosing, mortgaging the properties again, foreclosing, and on and on. Sure, lawyers are unethical, but please don't sell me a bill of goods that banks are the paragon of honesty, or that they're only doing their job. These are the dirty f*ckers who nearly sank the economy, after all.
You took out a mortgage? I honestly thought you lived with your mother.

Link?

If this is the case then they would have been screwed some other way sooner or later. You can't fix stupid gullibility, you just have to let them go until they crash and burn.


Where did I say banks are honest?


Trying your hand at trolling?

I don't know whether to blame the banks or the mortgage brokers who - out of sheer greed - helped low income, poor immigrants (who didn't understand English) secure loans that they could not afford.

In many cases of "stated income loans" involving borrowers who were non English speaking, poor / lower middle class immigrants, it was the mortgage brokers who filled out the loan applications and who in some cases even falsified incomes / earnings, knowingly seeking large loans that they knew were not affordable to the borrowers, out of sheer greed for their own commissions. In some cases, mortgage brokers and real estate agents colluded to get borrowers to take out loans that were outrageous, to say the least. I am not saying that the borrowers were completely innocent - if you move to another country and take on huge financial obligations, then the onus is on you to learn the language and learn exactly what you are signing up for - but that does not let mortgage brokers (or the banks) off the hook. If any banks made stated income loans, then those banks DESERVE to eat their losses. You snooze, you lose.

Serves you right !

This isn't a story I had read about Bank Of America trying to foreclose on people who had never taken out a mortgage with them, but two stories I had seen on TV. So no link.
As for gullibility and stupidity - victim blaming, now? In this situation, the banks have all the power in a relationship with unworldly, uneducated people. Banks should be expected to deal honestly with clients as do people in private life, and should face the exact same legal consequences if they commit fraud.
And no, I'm not trolling. I honestly thought you resided with your mother. Such a thing is hardly unheard of among Aspies, let alone NT's, and so I was not trying to be insulting.

Lulz for my part I don't even believe Bernie yet, nevermind the fact most of my town will vote his way. I take issue with money in the election process itself. If I beleved ANY of these people represented my interests, I'd vote for one of them. Instead they feign shared knowledge with their constituency while acting on nothing but the PR motives of career politicians. As deluded as they are, Trump & Carson aren't career politicians. This isn't a family business or a corporation, nor should the presidency be subjected, officially or not, to a minimum wealth requirement.

Obama lied & now my state taxes will be spent on moving Guantanamo to my backyard. Colorado Springs apparently runs a mean Gulag or nine. Carson always lies, Trump doesn't even know enough to lie and I'll eat my shoes if Hillary somehow wasn't lying about her STEM funding goals.

IF NEEDED?! Not like my Aunt's been getting extorted & decieved year after year for over a decade by Wall St. when she only lives ~40 miles from it.

I remember the Daily Show doing a skit on the Florida couple. It was hilarious.

The Daily Show - "The Forecloser"
NPR - "Florida Couple Forecloses on Bank of America"

Around this time unemployment was at its highest in years and in my town, several major employers either closed shop or made major cuts. The banks took advantage of the economic situation and were doing everything possible to foreclose on people. Oregon had to implement legislature and protection programs to curtail it. I knew some Republican voters, who were a victim of the banks foreclosing attempts, working and volunteering to get the legislature to pass. I recall fondly them being genuinely surprised that the Democrat politicians were working with them and the Republican politicians were just plain out ignoring them.

To examine the veracity of Hillary’s claim one need only look at her top five donors:

1. Citigroup Inc
2. Goldman Sachs
3. DLA Piper
4. JPMorgan Chase & Co
5. Morgan Stanley

Believing a single word this woman utters requires the willful suspension of reason.