Required reading: Why isn't Wall Street in Jail?

Subby, in the northeast USA, "putting the wood to " somone means something a bit more intimate than what Obama has planned.
I hope.

BullBearMS: For three important reasons, the President needs to explain why the Justice Department has filed away its investigations of big banks and Wall Street firms without indicting anyone.

First, American confidence in the system is deeply shaken.

Second, it strains credulity for millions of Americans -- and has impelled thousands of them to occupy public places in protest -- that no banking or insurance executive deserves criminal prosecution for the actions that brought on the financial crisis.

Third, by failing to prosecute a single high-profile Wall Street actor today, the Administration is failing to deter financial fraud tomorrow.

U mad.

Both sides are bad, Vote Republican, amirite?

Obama is too cozy with business... so vote Republican.

So in NY we've got an AG that was booted from the talks because he told them no way in farking hell is he not investigating. What exactly does that mean for us? If this "deal" is cut can the banks just appeal to the feds to get everything squashed?

NateGrey: BullBearMS: For three important reasons, the President needs to explain why the Justice Department has filed away its investigations of big banks and Wall Street firms without indicting anyone.

First, American confidence in the system is deeply shaken.

Second, it strains credulity for millions of Americans -- and has impelled thousands of them to occupy public places in protest -- that no banking or insurance executive deserves criminal prosecution for the actions that brought on the financial crisis.

Third, by failing to prosecute a single high-profile Wall Street actor today, the Administration is failing to deter financial fraud tomorrow.

U mad.

Both sides are bad, Vote Republican, amirite?

He's right. I know this is the politics tab but even as a left-leaning moderate, it pisses me off that when we see "fraudsters from Wall Street" being prosecuted, we're talking of the small fish in the sub-$100 million dollar range. Hell, if we were in trouble because of these guys Warren Buffet could pay this mess overnight. Unfortunately Republicans also make no mention of punishing these assholes, and have an angry muffin hypocrite and a weathervane that's never worked a day in his life. Vote RP?

Also, didn't he just announce the justice department is creating a special unit of investigators to look in to the fraud?

I still do not understand how criticism of Obama makes one a Republican. The GOP is worse, so vote Democrat? Just sit back and accept the lesser of two evils, despite that also being an evil? With that sort of attitude, there is no motivation for the Democrats to actually be liberal. No wonder they've drifted so far right in the last 30 years. Their base is just happy they're not the GOP.

BullBearMS: [dl.dropbox.com image 640x476]

Required reading: Why isn't Wall Street in Jail?

You can't put public roads in jail. That's just silly. There aren't cells big enough. Plus, taxis in lower Manhattan will have to drive on the dirt. No, no, that's a horrible plan.

HotWingConspiracy: Also, didn't he just announce the justice department is creating a special unit of investigators to look in to the fraud?

It's news that Obama pretends to be a progressive and a populist at election time?

arenaninja: Vote RP?

Both parties are sold out. Stop voting for both of them.

Vote Green, Vote Libertarian. Vote Socialist. Get out your dart board and vote at random. Just don't vote Democrat or Republican.

BullBearMS: HotWingConspiracy: Also, didn't he just announce the justice department is creating a special unit of investigators to look in to the fraud?

It's news that Obama pretends to be a progressive and a populist at election time?

Not really, but the article is claiming he's going to put his ink on this thing during election time and that would be a bit against the grain.

To those that are suggesting "at least it will help the little guy"...

It won't. If there is anything about this administration and the banks that you should know by now, its that they say one thing and then do another. My guess is that like other programs designed to help Americans, it will be ignored by the banks.

BullBearMS: HotWingConspiracy: Also, didn't he just announce the justice department is creating a special unit of investigators to look in to the fraud?

It's news that Obama pretends to be a progressive and a populist at election time?

arenaninja: Vote RP?

Both parties are sold out. Stop voting for both of them.

Vote Green, Vote Libertarian. Vote Socialist. Get out your dart board and vote at random. Just don't vote Democrat or Republican.

Why would a random person automatically be better than someone from the 2 parties? There's a lot of crazy people out there. Yelling "VOTE THIRD PARTY!" doesn't make you worldly and above the fray, it makes your political thinking shallow. Promote a specific person, or a specific platform, but this "Anybody else!" thinking is so poli sci 101.

Car_Ramrod: Why would a random person automatically be better than someone from the 2 parties?

What incentive to change does continuing to vote for them no matter what they do give?

BullBearMS: Car_Ramrod: Why would a random person automatically be better than someone from the 2 parties?

What incentive to change does continuing to vote for them no matter what they do give?

Don't you hate when people answer your question with a question?

Also, that's what primaries are for.

BullBearMS: For three important reasons, the President needs to explain why the Justice Department has filed away its investigations of big banks and Wall Street firms without indicting anyone.

First, American confidence in the system is deeply shaken.

Second, it strains credulity for millions of Americans -- and has impelled thousands of them to occupy public places in protest -- that no banking or insurance executive deserves criminal prosecution for the actions that brought on the financial crisis.

Third, by failing to prosecute a single high-profile Wall Street actor today, the Administration is failing to deter financial fraud tomorrow.

SO MUCH THIS

These settlement proposals are not punitive and do nothing to help underwater mortgages.

Don't vote for a single incumbent, no matter what your party affiliation is. Pick who you feel is the best candidate outside of the incumbent. A massive amount of new faces, and the addition of more 3rd party reps. hopefully scare the ones left enough for them to quit being farktards.

iron_city_ap: Pick who you feel is the best candidate outside of the incumbent.

Screw you. In my state the best candidates are the incumbents. Keep knee-jerking though, it makes you really look "impartial".

Here is a simple suggestion; how about just letting people reset their current interest rate to what is the market's lowest current rate and then make payments based on the new amount? No refinance/document/closing cost/points bullshiat. Just one time, make it that simple.

/9 years to go at 4.5%
//no way to refi and save money over that
///FML

BullBearMS: For three important reasons, the President needs to explain why the Justice Department has filed away its investigations of big banks and Wall Street firms without indicting anyone.

First, American confidence in the system is deeply shaken.

Second, it strains credulity for millions of Americans -- and has impelled thousands of them to occupy public places in protest -- that no banking or insurance executive deserves criminal prosecution for the actions that brought on the financial crisis.

Third, by failing to prosecute a single high-profile Wall Street actor today, the Administration is failing to deter financial fraud tomorrow.

What do you have against job creators?

Oh I'm sure he'll really put the screws to his biggest financial backers.

No totally, he will. Next he's going to come down on Union corruption. Really clean house.

Surely, continuing along this path will fix everything!







However, there are a small number of people in the House and Senate whose voting record consistently make them stand out as worth saving. Ron Wyden, Bernie Sanders, Marcy Kaptur...

For instance, here are the Representatives and Senators who opposed SOPA/PIPA from the beginning.



Or you can look at the small number of Senators who voted against the NDAA

Cardin (D-MD)
Coburn (R-OK)
Crapo (R-ID)
DeMint (R-SC)
Durbin (D-IL)
Franken (D-MN)
Harkin (D-IA)
Lee (R-UT)
Merkley (D-OR)
Paul (R-KY)
Risch (R-ID)
Sanders (I-VT)
Wyden (D-OR)

The lists tend to be small, but there are a few like Wyden who consistently come down on the people's side of the issues.

Anyone who throws roses at my son's feet will answer to me!

HotWingConspiracy: Also, didn't he just announce the justice department is creating a special unit of investigators to look in to the fraud?

swahnhennessy: I still do not understand how criticism of Obama makes one a Republican. The GOP is worse, so vote Democrat? Just sit back and accept the lesser of two evils, despite that also being an evil? With that sort of attitude, there is no motivation for the Democrats to actually be liberal. No wonder they've drifted so far right in the last 30 years. Their base is just happy they're not the GOP.

Ah, but they are right in line with a more centric person like myself. Just because the fringe right and left are a bunch of crazies does not mean the middle majority are.

They forgot to mention he has dropped his golf handicap by 10.

Biological Ali: BullBearMS: For three important reasons, the President needs to explain why the Justice Department has filed away its investigations of big banks and Wall Street firms without indicting anyone.

First, American confidence in the system is deeply shaken.

Second, it strains credulity for millions of Americans -- and has impelled thousands of them to occupy public places in protest -- that no banking or insurance executive deserves criminal prosecution for the actions that brought on the financial crisis.

Third, by failing to prosecute a single high-profile Wall Street actor today, the Administration is failing to deter financial fraud tomorrow.

What law(s) would they be prosecuted under?

Fraud isn't illegal?

You do realize that this settlement is for the banks submitting fraudulent foreclosure documents to courts in every state in the nation, don't you?

GAT_00: 7of7: GAT_00: Oh, it's a terrible deal. BUT, if it does go through and people can refinance from it? I'll take it. That's actually helping people.

There have been so many plans to help people refinance or otherwise make their mortgage affordable that it'd be better to publicize the existing programs (hamp, harp, pra, etc) and harshly punish banks for sandbagging than to act as if a new one will fix what the existing ones haven't.

Those generally require you to be in trouble, say from missing payments. This one won't. If I understand correctly, it will reward people who have been paying with a favorable refinance.

Not likely

majestic: Here is a simple suggestion; how about just letting people reset their current interest rate to what is the market's lowest current rate and then make payments based on the new amount? No refinance/document/closing cost/points bullshiat. Just one time, make it that simple.

/9 years to go at 4.5%
//no way to refi and save money over that
///FML

Bingo. Refinancing at 5.1% (according to TFA) when the lowest rate currently is 3.9% is a joke. I understand that credit worthiness could affect the rate, but starting out at 5.1 is a insult.

There's a war criminal in Texas right now who can prove to you just how vigilant our president is in stopping wrongdoers.