It surprises me so many lack critical thinking abilities. Obama is still running for election. The guy is now running for 2012. He knows he has all the liberal pussies in his back pocket. So there is no value in courting the pussies. The value is in acting more Bush than Bush himself. He wants to be the first black man to win republican votes. That's why the guy bends over backwards out flanking republicans in all their evil galore.
Again the severe lack of critical thinking abilities. And where would these companies move to? if all the American Citi branches closed, another bank will be there the next morning. Are most of you that stupid you can not think beyond the 2 second opinions fox and its masters bombards you imbeciles with?
I don't understand why people think banks are not lending. I still get credit card offers in the mail and if I walked into a car dealership tomorrow I'd get approved for an auto loan. If I wanted to refinance my house I'd get approved. Oh wait! Now I know why...I got an 845 credit score. Go figure, only people who can pay back the loan get financed these days. Sub-600 don't get the time of day and for crying out loud, that's the way it should be!
Honestly, I don't think there's that much more lending to be done - above what's being done right now. The Banks know that the old paradigm is dead - that many municipalities, individuals, states, corporations large and small - are overly levered. That's why I don't get it when Obama and Geithner et al complain that banks should be lending more. To who? For What? The time for huge lending was in the 1950s and 1960s when we were building highways, bridges, factories etc.... What do we need now? More strip malls and office parks? That's why banks came up with securitization and other forms of financial engineering - to make money from nothing. That's why they are so eager for cap and trade and its upcoming exchange. Banks are speculators now. But unlike you and me, they have the Fed, the FDIC, and the Treasury, and of course, the taxpayer to bail out losing trades. Who bails us out when we buy a dog of a stock? I've had months when my portfolio has gotten clobbered. No one there for me. I go back to the drawing board, cut down my expenses, and build again - and hopefully smarter for it. That's why I say screw these big banks and their Diva traders. Tax the shit out of them. A bunch of pussies if you ask me. I'd like to see them make money the way I do.
I have never seen someone in an authoritative role that spoke like he knew what he wanted, but in reality has no clue. Nothing would surprise me at this point. He will do whatever will get him popularity and rock star status. Professional candidate. No administrative skills whatsoever. No background. We elected Tiger Woods. Looked like him, sounded like him, everyone figured he was skilled like him. Always seems pissed off because he knows he's a facade. Best defense is a good offense. This guy has had more press conferences in 11 months than 16 years of Clinton and Bush combined. Goes to bankers to demand they lend and lower standards and smiles for the cameras. His regulatory agencies are demanding and threatening banks to divest risky assets at the SAME time. Tax the bankers. Oh wait, that will bankrupt NYC and NY State. Bankers getting all stock now because of his threats about bonuses. So no revenues for NY. They already decided they are paying their bills 90 cents on the dollar as of right now. Just a matter of time til vouchers. Banks are tax exempt for years because of writeoffs. Who said Citi was stupid? They paid back TARP $20bil. BUT negotiated to KEEP $38bil tax benefit - Brilliant! That's a net $18bil GAIN they weren't supposed to have kept. Because of his lack of decision making ability and indecision we saw the banks trade to 25 year lows by his 3rd month in office. Instead of action he points the finger at everyone else then and in Afganistan 3 month indecision. Jan 2012 can't come soon enough. The good news is that by then we will have a republican congress and adminitration and give them a shot again. Let's get someone intelligent that has actually got some real skills, like Mitt Romney. 2012=1980. Obama=Carter
DUHHHHH. Take out your map, and see where China, India, Hong Kong, and 225+ other countries where work at a couple of financial institutions, and see their offshore depts, which are rapidly enlarging in IT, analysts, trading, back office, call centers and many other things. See the recent threads on hedge funds and financial institutions moving from England to Switzerland. seriously, you have the brains of a stone.
I'll agree that Obama has done little to reign in the banksters. But let's be honest. No president or party has a better record either. This goes back decades and there is ample proof that both parties are at fault. Both parties are entrapped - whether they control the executive or legislative branch or both. Third party is only solution.
Personally, I think these financial companies should be subsidized to move to Iran, Venezuela, and North Korea. Hit several birds with one stone.
No real change can come from America. Obama is same old same old. What's the alternative?? There is NONE! There is no influential third liberal party that's fiscal conservative. The two-party system is killing the USA. Both want debt and delay the inevitable. Plus, I read an article by Karl Denniger that salaries of government officals, above 100k per person, increased 17% in 2008/2009, while private sector wages fell! Face it, the government has become slave to the bankers. They want to keep their salaries and nothing is gonna change until the inevitable collapse.
Was I being a little too critical in my post last night? Maybe, but it seems Matt Welch agrees. Granted - it is the NY Post's conservative spin on him in today's paper. Obama, left behind: Even progressives abandon him as he ends a lost year