House passes landmark financial reform bill

**Alundil** · 07-15-10, 05:03 PM

lol - my panic button is broke

**jason_jinx** · 07-15-10, 07:39 PM

Originally Posted by Alundil

lol - my panic button is broke

Ha!

I was hoping for Michael Berry or Chris Baker to start freaking out on the air.

Sent from my iPhone4 using Tapatalk

**~~hawgballs~~** · 07-15-10, 07:42 PM

Originally Posted by CivilWars

Yeah, he was doing so much to reel in big banks when he gave them billions in TARP funds, and forced some big banks to take other failed big banks into their portfolio. What a hero.

Yeah, some of those banks paid back all of the money loans, with interest, while others are steady paying back. How horrible was it that he loaned money to banks in order to get the credit system back together. You know about this shit, how fucked would our system be if loans can't be made? Admit it, TARP is working. Unless you can point out where it is failing, then you are doing nothing more than crying over spilled milk.

**CivilWars** · 07-15-10, 07:49 PM

Yeah, I understand it, I work for one of the banks that received the money, and has paid it back. Here is the problem I have with the current plan. They gave money to many banks, plenty of whom didn't want/need it, then when the banks pay it back the government suddenly decides the banks should pay interest, when it wasn't agrees to in the beginning. More importantly go look and see how many banks have already failed this year, we are on record pace, so no, TARP isn't working. Guess what happens to those banks that fail? The government pretty much requires them to be consolidated into...wait for it...bigger banks. So if the plan is to not have banks to big to fail then why are we encouraging banks to get bigger? Sounds like counter-productive legislation to me. Let's pay tax money to build bigger banks, then pay more tax money to break them up

?

**CivilWars** · 07-15-10, 07:51 PM

http://www.fdic.gov/bank/individual/.../banklist.html

For those that won't Google it themselves.

**~~hawgballs~~** · 07-15-10, 07:56 PM

Great. Some dinosaurs will die. But that is not testimony of TARP failure. Did those banks close due to TARP or just in spite of it? Is there an active credit market now because of TARP or in spite of it?

People die in hospitals every day, does that mean that all hospitals are failing?

**CivilWars** · 07-15-10, 08:05 PM

So what information or evidence do you have that shows that TARP was successful? The big banks were writing loans before, during, and after TARP funds were given and repaid, so no affect on them. Smaller banks are failing left and right even after TARP, so no affect on them. So, you show me, who benefited from TARP again?

As for dinosaurs failing what exactly happens when a bank fails? Oh yeah, another bigger bank takes them over. Who makes that happen? Oh yeah, the FDIC, I guess that is the government, right, I mean it is FDIC.gov after all. So one division of the government is saying, "banks, get bigger, so you can survive," and another division is screaming, "big banks, bad!!!" So which is it?

**Consultant** · 07-15-10, 09:08 PM

Isn't this sort of a false recovery? what is supporting it? all the indicators are still down while unemployment is up. Banks aren't lending all this new cash they were given...credit is still tight.

I just dont understand how long the house of cards can stand...

**Kraker Jak** · 07-16-10, 01:24 AM

Consultant....only a fool looks for logic in a democratically passed legislation...

**Consultant** · 07-16-10, 11:15 AM

Im not even concerned with the legislation...no financial legislation by any administration of any party can prevent the economic result of doubling the money supply in 4 years.