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Reply #6: I agree that if they claim they shouldn't have taken the money, [View All]

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beachmom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-11-09 04:01 PM
Response to Reply #5
6. I agree that if they claim they shouldn't have taken the money,
then .... give it back then. The article I cited shows that some of the smaller banks are doing just that.

However, I don't like Congress micromanaging the banks. It just strikes me as silly. There has to be a better way. Maybe the problem is that management needs to be changed. But to draft a bill every time a bank does something people don't like is really inefficient.
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  -Bernanke responds to Sen. Kerry's concerns on excess spending by bailed out co's TayTay  Mar-11-09 10:37 AM   #0 
  - I wonder when the letter was written as it was in response to an October letter  karynnj   Mar-11-09 02:25 PM   #1 
  - Saw that. But ..... I am beginning to feel a bit contrarian on some of  beachmom   Mar-11-09 02:33 PM   #2 
  - Lots of interesting takes on the article at Memeorandum:  beachmom   Mar-11-09 03:15 PM   #3 
  - I read Kevin Drum's piece. He has a point, but it's simplistic.  ProSense   Mar-11-09 03:55 PM   #5 
  - I agree that if they claim they shouldn't have taken the money,  beachmom   Mar-11-09 04:01 PM   #6 
     - I think the conditions should be painful and onerous  TayTay   Mar-11-09 09:06 PM   #10 
        - EXCELLENT post. I agree with...  YvonneCa   Mar-11-09 09:34 PM   #12 
        - Where is the outcry for what that kind of "social engineering" will do  TayTay   Mar-11-09 10:02 PM   #13 
           - Sometimes I'm really glad that I retired and won't have...  YvonneCa   Mar-11-09 10:40 PM   #14 
           - That is why the state budget choices are so important  karynnj   Mar-12-09 07:18 AM   #15 
              - State budget choices are absolutely critical...  YvonneCa   Mar-12-09 12:06 PM   #21 
           - Okay, put it to you this way:  beachmom   Mar-12-09 10:20 AM   #19 
              - "The tellers at your local bank? How is this their fault? "  ProSense   Mar-12-09 01:03 PM   #24 
              - They get bonuses as part of their pay.  beachmom   Mar-12-09 01:29 PM   #28 
                 - Bonuses?  ProSense   Mar-12-09 01:38 PM   #32 
                    - Many companies are even cutting pay  karynnj   Mar-12-09 01:43 PM   #34 
                       - This was one thing that struck me about Northern Trust  ProSense   Mar-13-09 12:13 AM   #66 
              - i agree with you on this one - it has nothing to do with making the banks healthier  karynnj   Mar-12-09 02:08 PM   #37 
        - Actually, the MANAGEMENT of these banks and CERTAIN DIVISIONS  beachmom   Mar-12-09 10:12 AM   #18 
           - "it IS social engineering to start making demands on banks "  ProSense   Mar-12-09 01:10 PM   #25 
              - Yes, criteria that makes sense. Like limiting dividends.  beachmom   Mar-12-09 01:26 PM   #27 
                 - Criteria that protects from futher abuses.  ProSense   Mar-12-09 01:35 PM   #30 
                    - Ah, Obama does not want to nationalize the banks.  beachmom   Mar-12-09 01:40 PM   #33 
                       - Obama is going to do whatever it takes.  ProSense   Mar-12-09 01:57 PM   #35 
                          - I think you misread my complaint here.  beachmom   Mar-12-09 02:10 PM   #38 
  - The Drum article takes as truth many things that really aren't  karynnj   Mar-12-09 07:57 AM   #16 
  - I don't feel an ounce of sympathy for the financial institutions.  ProSense   Mar-11-09 03:39 PM   #4 
  - Well, in the end, this is for the common good.  beachmom   Mar-11-09 04:04 PM   #7 
  - H1B visas are for jobs that cannot be fulfill by US residents.  Mass   Mar-11-09 05:36 PM   #8 
     - I just think that provision should not be in the law. Also, people  beachmom   Mar-11-09 07:59 PM   #9 
        - Where do you see it is (or should be?)?  Mass   Mar-11-09 09:12 PM   #11 
           - Well, the union part is not in the law. It is simply that Unions  beachmom   Mar-12-09 09:56 AM   #17 
  - The fight and who is to blame:  beachmom   Mar-12-09 11:15 AM   #20 
  - What?  ProSense   Mar-12-09 01:01 PM   #23 
     - The damage was already done WELL before 2004.  beachmom   Mar-12-09 01:15 PM   #26 
        - Now you're moving the post: "most of it happened under Bill Clinton's watch."  ProSense   Mar-12-09 01:32 PM   #29 
        - Well, by all means, please post that speech. I have not read it.  beachmom   Mar-12-09 01:36 PM   #31 
           - Legislation  ProSense   Mar-12-09 02:02 PM   #36 
              - more bills filed and pertinent info  TayTay   Mar-12-09 02:14 PM   #39 
              - The Republicans held power from '94 to '06. But I want to know  beachmom   Mar-12-09 02:21 PM   #41 
              - Personal aside: ARRRRGGGHHHHHHH  TayTay   Mar-12-09 02:31 PM   #42 
              - The legislation you have posted, although praiseworthy, would  beachmom   Mar-12-09 02:14 PM   #40 
                 - "although praiseworthy"?  ProSense   Mar-12-09 02:38 PM   #43 
                    - That legislation did nothing in relation to the lax regulation  beachmom   Mar-12-09 03:21 PM   #44 
                       - You started with the FDIC, move to the Clinton years and now want specific statements about Gramm?  ProSense   Mar-12-09 04:05 PM   #45 
                          - More  ProSense   Mar-12-09 04:17 PM   #46 
                          - Yes, Elliot Spitzer broke this case. Did this legislation pass?  beachmom   Mar-12-09 04:40 PM   #48 
                          - I take a holistic approach to this, and have read considerably  beachmom   Mar-12-09 04:32 PM   #47 
                             - This is revisionist history.  ProSense   Mar-12-09 05:03 PM   #50 
                                - Conference report vote here.  Mass   Mar-12-09 05:11 PM   #51 
                                   - Right,  ProSense   Mar-12-09 05:16 PM   #52 
                                   - I wonder what vote that was that the Kossak provided.  beachmom   Mar-12-09 06:56 PM   #55 
                                   - This was the consolidated budget  karynnj   Mar-12-09 06:19 PM   #54 
        - The excesses of Freddie and Fannie was in buying loans  karynnj   Mar-12-09 04:56 PM   #49 
           - The other thing that's really bizarre in all this  ProSense   Mar-12-09 05:50 PM   #53 
           - The vote in the Congress for the FDIC vote was a VOICE VOTE.  beachmom   Mar-12-09 07:00 PM   #56 
              - That's not necessarily the case.  ProSense   Mar-12-09 07:04 PM   #57 
                 - True, but the only one who championed for assessing more fees  beachmom   Mar-12-09 07:12 PM   #59 
           - Re: derivatives  beachmom   Mar-12-09 07:10 PM   #58 
              - Wait a minute.  ProSense   Mar-12-09 07:18 PM   #60 
              - Oh, for goodness sake, I know that. I sifted through the lists.  beachmom   Mar-12-09 07:27 PM   #62 
                 - "No doubt some of that $$ was about something else, not influence"?  ProSense   Mar-12-09 07:36 PM   #63 
                 - Yes - I will deny it.  karynnj   Mar-12-09 08:32 PM   #64 
                 - It is impossible to know motive for all these folks  TayTay   Mar-13-09 09:17 AM   #67 
              - The original sin with Fannie And Freddie is deeper than that.  TayTay   Mar-12-09 07:26 PM   #61 
              - One problem with the Financial Crimes Division:  beachmom   Mar-13-09 12:12 PM   #69 
                 - Yeah, but it wasn't legal for a long while, then it was  TayTay   Mar-13-09 12:39 PM   #71 
              - The money that Kerry got was because he was the Presidential candidate  karynnj   Mar-12-09 09:19 PM   #65 
                 - It is not quid pro quo per se. It is in a grey area. Democrats  beachmom   Mar-13-09 12:04 PM   #68 
                    - The Democrats on the banking committe - which Kerry was NOT on at that time  karynnj   Mar-13-09 12:28 PM   #70 
  - Wow, over 1485 views on this thread!  TayTay   Mar-12-09 12:51 PM   #22 
  - Why the anger?  beachmom   Mar-13-09 01:10 PM   #72 
     - "Sorry, he DESERVES defense when he does good things. But I just don't see him as a Hero..."  ProSense   Mar-13-09 01:26 PM   #73 
     - You have yet to show John Kerry doing any big thing to stop  beachmom   Mar-13-09 01:36 PM   #74 
     - Do you mean singlehandedly?  ProSense   Mar-13-09 02:11 PM   #79 
        - The death of a thousand cuts was how our regulatory  beachmom   Mar-14-09 11:23 AM   #82 
           - You talk about this crisis as if it's the first one since 1984.  ProSense   Mar-14-09 03:27 PM   #84 
     - Part of the problem is wanting villians  karynnj   Mar-13-09 01:48 PM   #75 
        - Did you read the Wired article I linked to upthread?  beachmom   Mar-13-09 01:58 PM   #77 
     - I do not think Finance is an area where Kerry has even been very active.  Mass   Mar-13-09 01:51 PM   #76 
        - "A flaw in the system". Yup.  beachmom   Mar-13-09 02:01 PM   #78 
        - Mass, do you think it's possible that many in the Senate...  YvonneCa   Mar-14-09 10:04 AM   #80 
           - I do not disagree with you, but this does not change the problem.  Mass   Mar-14-09 10:45 AM   #81 
              - You aren't 'rambling'...  YvonneCa   Mar-14-09 11:49 AM   #83 
 

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