Opinion | The Plot to Politicize Banking

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From WSJopinion: The use of political intimidation to allocate capital is an assault on economic efficiency and freedom, write Phil Gramm and Michael Solon

To resist President Trump’s campaign of economic reform and deregulation, his critics usually attempt to portray long-overdue, common-sense policies as assaults on the poor.

A good example is the controversy regarding the Community Reinvestment Act, or CRA, which requires banks to meet the “credit needs” of their “entire community, including low- and moderate-income neighborhoods, consistent with the safe and sound operation of such institutions.” The media howled at a plan to rein in abuses of the law—despite its role in fueling the subprime crisis—setting off a fight among regulators.

 

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opinion Hacks at work.

opinion Any bankers molest little Kate Moss look a likes via sugar babies dot com? Yummy yummy yummy for the pedophiles? Eeeeeeeeeeeeewwwww! 😡😡😡😡😡😡😡😡

opinion Pizza and Pasta Madame Pimp...

opinion As someone who has a long career in banking and with banks who melted in '08. I can tell you first hand, CRA had VERY little to do with the crisis. Home loans from AAA to B, were all leveraged +40x, commoditized, packaged, more leverage, CDS's....that's what caused the crisis.

opinion Who’s the alien baby yoda here? What are you trying to say? Drink beer with the blue bloods shorting our lives? Wtf child molesters! 😡😡😡

opinion 'political intimidation' Like withholding supplies in PR to manipulate PR citizens relocated to Florida to get them to vote for democrats in 2018?

opinion What is this you’re planning next child molesters?

opinion Wait what? What’s this?

opinion The capitalists are the victims?

opinion Did they eat those babies too afterwards? Wtf Wall St?! Eeeewwwww! 😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡

opinion The banks didn’t just miscalculate all of it. It was PREDICTIVE PROGRAMMING!!!!!! Just like the Child Molesters of Wall St were strategically groomed to fulfill bad touch fantasies of the kiddies they were gonna short!!! 😡😡😡😡😡😡😡😡😡😡😡😡

opinion dressed as a pilgrim dass ist funny

opinion You ppl are SO goddamn shameless when it comes to this particular lie. Its bad enough that Wall Street big shots responded to deregulation by breaking the world in 2008 but to blame the CRA (only 1/4 subprime loans came from entities even covered by the CRA) is gross, and racist

opinion How about banks discontinuing the Great shorting of our lives 1.0, 2.0, 3.0, etc? They’ve already ransacked and murdered 40 years of our economy. The last 20, the banks stole from our future and paid themselves bonuses to buy yachts with mini child molester yachts! 😡😡😡😡😡😡😡

opinion Yeah, uhh, no, deregulation of banking is not 'common sense', in fact it's actively making the entire system of banking worse. Blaming the CRA for 2008 is inaccurate as well, the real blame for that goes to Gramm-Leach-Bliley for overturning Glass-Steagall

opinion So is dark money.

opinion Whether Intimidation, Incentives or Bribes, they all have the same effect and is normal.

opinion “The use of political intimidation to allocate capital is an assault on economic efficiency and freedom. “. NY is trying this with the NRA. Clear violation of 1A freedoms!

opinion What about Trump blocking Huawei from world market place? Free markets & free capital allocation? Actually big banks lend to crony billionaires! Jewish bankers lending to fellow Jews? Trump blocking Iran oil sales? Speak up you free market bums! Stop writing crap!

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