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Tag: Financial institution

Andrew Comments on the Post – The TARP Bank Bailout Saved Huge Financial Institutions But the Benefits Failed to Trickle Down to Most Americans

Andrew comments on my previous post – The TARP Bank Bailout Saved Huge Financial Institutions But the Benefits Failed to Trickle Down to Most Americans.

Andrew comments with some regularlity on my posts. Here are his latest thoughts –

You mean trickle down economics doesnt actually work!?  Who would’ve thought it!!!!????  That type of economic mechanism only works when the business leaders allow it to happen.  In this case, greed led these executives to run their companies into the ground.  In response, the government bailed them out with a program that could only be effective if they behaved unselfishly and without greed.  Hmm…

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5 reasons why banks hate [and fear] Elizabeth Warren (via Eideard)

5 reasons why banks hate [and fear] Elizabeth Warren

I’m sorry, Congressman, you’re small-minded, too! Daylife/Reuters Pictures used by permission Elizabeth Warren, it’s not you they hate. It’s what you represent. You want to be an honest cop when so many before you in Washington have looked the other way and pretended that the banking industry could police itself. I can’t think of a better reason why this presidential adviser shouldn’t be the new chief of an unfettered Consumer Financial Protectio … Read More

via Eideard

I couldn’t agree more. An honest broker is the last thing the large banks can stand. They want the status quo of unaccountability to continue forever. We’re just sheep to be sheared under current law. Even knowing what shenanigans the industry is up to is very difficult.

Let’s get Elizabeth Warren confirmed.

James Pilant

From around the web.

From the web site, leaf  – stitch – word. (An unusual endorsement. jp)

http://leafstitchword.wordpress.com/2013/06/30/thank-you-elizabeth-warren/

I’m really glad she won the November 2012 Senate race against Scott Brown.
And I’m really glad that Jimmy had the presence of mind to make a
contribution to her campaign and ask volunteers to install one of her
giant signs in our front yard. The sign came on a giant wooden stake
that, since mid-November, has been resting against the wall of our
garage, too tall to put in a trash barrel. Today I cut and drilled that
scrap to make a hanger for bike helmets on the garage wall.

From the web site, The Web of Debt Blog.

http://webofdebt.wordpress.com/2013/06/14/elizabeth-warrens-qe-for-students-populist-demagoguery-or-economic-breakthrough/

On July 1, interest rates will double for millions of students – from 3.4% to 6.8% – unless Congress acts; and the legislative fixes on the table are largely just compromises. Only one proposal promises real relief – Sen. Elizabeth Warren’s “Bank on Students Loan Fairness Act.” This bill has been dismissed out of hand as “shameless populist demagoguery” and “a cheap political gimmick,” but is it? Or could Warren’s outside-the-box bill represent the sort of game-changing thinking sorely needed to turn the economy around?

Warren and her co-sponsor John Tierney propose that students be allowed to borrow directly from the government at the same rate that banks get from the Federal Reserve — 0.75 percent.

From the web site, Politics USA.

http://www.politicususa.com/2013/05/09/elizabeth-warren-reminds-corporate-controlled-senate-work.html

Sen. Warren said, “Some people say that we can’t afford to help our kids
through school by keeping student loan interest rates low,” said
Senator Warren. “But right now, as I speak, the federal government
offers far lower interest rates on loans, every single day – they just
don’t do it for everyone. Right now, a big bank can get a loan through
the Federal Reserve discount window at a rate of about 0.75%. But this
summer a student who is trying to get a loan to go to college will pay
almost 7%. In other words, the federal government is going to charge
students interest rates that are nine times higher than the rates for
the biggest banks – the same banks that destroyed millions of jobs and
nearly broke this economy. That isn’t right. And that is why I’m
introducing legislation today to give students the same deal that we
give to the big banks.”

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