Why Moody's 15 bank downgrades matter
Ratings cuts can cost global banks big money. But regional banks could find opportunity in the fallout.
Gonna have to go over that monthly bank statement with a magnifying glass to look for any new fees.
The banks should have to keep more money in reserve, and it should come from the CEO's pay who make millions. Then we will not have to bail out there deriative, mortgage and ponzie shemes that brought down the world. Their should be more regulation because they cannot keep themselves honest so it has to be done for them.
And OMGosh, this started long before Obama even took office. He got stock with this disaster and I hope he regulates the hell out of "them". Cause if the GOP has it's way the only "less government" you are going to see is for the banks and big corporations, letting them do whatever they want. Let them finally destroy "it all". Not just monetarily, but enviromentally, and with more war. Romney does not even keep his $250 million in his own country. And he wants to lower captial gains to 12% which is what he paid. I don't know many people who just live off captial gains....Do you? Of course not, we are the ones who bear the cross and the arrogance of those who literally will destroy it all, because they just want more and more and more.
Yes we have to cut back one "some" social programs. But Social Security was paid for by our money, our hard work and would be solvent if (starting with Reagan maybe back further). THEY HAD NOT TOUCHED IT TO PAY DOWN DEFICITS. Or, given it to those who never even paid into it. We have to lower corporate taxes evening the playing field, but also cut out loopholes so companies like Exxon and GE cannot get away with paying "0" to their own country. Their are things that can be done and Obama has tried, but NO, let's just keep th world in harm's way and call Obama a Socialist. All so the Republicans can get control and give business whatever they want, lower their own taxes and stomp on everyone else.
I agree nancy Pelosi is a wacko, but then again so are Boeher and Cantor and McConnell. And it seems all of the GOP Congress these days. The GOP has no answers. Oh yeah deregulate, deregulate and lower taxes on the "entitled", but increase taxes on those "they" consider "unentitled". and, let's not help by passing actions that could help, even things they themselves
recommended, let's just continue bringing us to the point of no return and call Obama a "Socialist", blame the scary, bad Obama.
Just in case you might have wondered how their ineptitude affected their lives after they ruined so many dreams and lives....let me refresh your memory:
Where are Jim, Tim and Franklin now? Here's a quick look into the three former Fannie Mae executives who brought down Wall Street.
Franklin Raines - was a Chairman and Chief Executive Officer at Fannie Mae. Raines was forced to retire from his position with Fannie Mae when auditing discovered severe irregularities in Fannie Mae's accounting activities. Raines left with a "golden parachute valued at $240 Million in benefits. The Government filed suit against Raines when the depth of the accounting scandal became clear.
Tim Howard - was the Chief Financial Officer of Fannie Mae. Howard "was a strong internal proponent of using accounting strategies that would ensure a "stable pattern of earnings" at Fannie. Investigations by federal regulators and the company's board of directors
since concluded that management did manipulate 1998 earnings to trigger bonuses. Raines and Howard resigned under pressure in late 2004. Howard's Golden Parachute was estimated at $20 Million!
Jim Johnson - A former executive at Lehman Brothers and who was later forced from his position as Fannie Mae CEO. Investigators found that Fannie Mae had hidden a substantial amount of Johnson's 1998 compensation from the public, reporting that it was between
$6 million and $7 million when it fact it was $21 million." Johnson is currently under investigation for taking illegal loans from Countrywide while serving as CEO of Fannie Mae. Johnson's Golden Parachute was estimated at $28 Million.
Raines works for the Obama Campaign as his Chief Economic Advisor.
Howard is a Chief Economic Advisor to Obama under Franklin Raines.
Johnson was hired as a Senior Obama Finance Advisor and was selected to run Obama's Vice Presidential Search Committee.
People with comic book mentalities have a tendency to become emotional and
lash out at those with policies they disagree with.The entitlement seeker's
becoming the most virile. Most all ignoring the facts.
Our country was doing well until 2006, when Nancy Pelosy took the throne
and said she was going to drain the swamp. Instead she drained the taxpayers,
and stiffled small business. Later she got reinforced with another Socialist for
president. THE American taxpayers in 2010 had enough and removed her from her
position. In November we need to remove the other Socialist from the White House.
If you downgrade all the Moneycenter Banks, It is simply a recognition that they work in a more volatile sector; this ignores that they still have the basic regional strength that they started with, plus additional firepower outside their region.
I would find a Moneycenter Bank a stronger banking partner than a purely Regional Bank. The latter lives or dies with the economy of the region.
On a political front, little States have formed the USA and continue to form the European Union.
Let us give the small banks within these States, in the EU, the time to come together and unify their strengths. It is a tragedy that they must do it under the gun of a failing World Economy, well before they have reached anything near peak effectiveness and power.
Having said that, our best fighters have become the best when the enemy, in this case Depression, has been fully focused upon them. We have no choice but to give our leaders the leeway to do their best to overcome the obstacles that face us. I know they will do so.
Paul C. Forbrich, JD
If you sheeple would get off your soap boxes and look up some history, this all happend before in 1929. The greedy mother****ers on Wall Street and the Banksters were to blame. FDR put in the NEW DEAL and we had 50 YEARS of stability, FACT. NIXXON started to dismantle the regulations that were in place to keep this **** from happening again. RONNY RAYGUN and his VOODOO economics, and GEORGE BUSH, (and his coke sniffing, draft dodging son, the SHRUB) finished the job and now your all ****ed.
You want it to get right? Re Install all the NEW DEAL regulations, adjusted for the times, get money out of politics, and get off your fat, gelatinous asses, and VOTE.
The Banksters should be tarred, feathered and paraded around in public, then jailed
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All hail the bull market, which ended the week with a big rally. But it also is starting to look a little like 1987, which suffered an epic blow-out.
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