We all know down here on Main Street that most of the financial services industry is trying to fly under the regulatory radar so that can lie, cheat and steal in order to turn a profit. Right?
It seems like many of these bankers do not want to really provide true value to the people in our society. It appears that it is still all about turning profits at any cost.
Can you believe that these fat cats still want to continue operating without anyone really watching them?
Hell, we know where that got us! Bingo! Right where my arse and your arses are at now, up debt creek without a money paddle. Hey, at least we can keep each other company for the wild ride up the creek ;)
We have to be positive in such a negative reality. The glass is half full, right???
These banks have turned not just a nation, but a world into a bunch of unmanageable, bankrupt, depressed debt and wage slaves. This is all happening right before our very eyes guys and gals. I am not making this banking stuff up because the proof is in everywhere you look , turn and feel in your sleepless nights.
There is no one to blame but the producers of theses toxic and fraudulent products. The financial services industry!
Now let’s see if Obama and his administration can really get some teeth into this industry that has ”Gone Wild!”
“When you buy a toaster, if it explodes in your face, there’s a law that says, ‘Your toasters need to be safe,’ ” Obama said. “When you get a credit card or you get a mortgage, there’s no law on the books that says, ‘If that explodes in your face, financially, somehow you’re going to be protected.’ ”
The consumer protection idea is one of a series of legislative proposals Obama will lay out on Wednesday — from beefing up the power of the Federal Reserve to giving regulators authority to wind down big banks.
The consumer protection plan is the only one that already has broad support among key Democrats and could gain a consensus in Congress.
And it’s also the only one that so far the banking industry uniformly doesn’t like.
“It’s bad for the consumers,” said Steve Bartlett, president of the Financial Services Roundtable, a lobbying group for banks.
Adding to my rss reader. Great stuff. Keep it up!