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(Slate)   Why did the Obama administration let the banks off with little more than a wagging finger and an "Oh YOU"?   (slate.com) divider line 214
    More: Obvious, obama, Ally Financial, Project Syndicate, James Kwak, Peterson Institute for International Economics, credible threat, foreclosures, loan agreement  
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4489 clicks; posted to Politics » on 25 Feb 2012 at 4:48 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-02-25 09:16:39 AM  
Because this is America and big business and the banks don't have to abide by the same rules as everyone else.
 
2012-02-25 09:45:28 AM  
Because they are balls deep in Big Business just like every single administration since the Civil War?
 
2012-02-25 11:22:27 AM  
Because even if they wanted to put the smack down on the banks (which they haven't shown any real willingness for), the GOP and it's mouthpiece Fox would have screamed that the Administration was trying to interfere in the free market, was trying to micromanage the financial industry; and was stealing from the Job Creators TM.
 
2012-02-25 12:12:55 PM  
I seem to recall a very loud and sustained wailing when even the idea of regulation was mentioned
 
2012-02-25 12:14:51 PM  

MaudlinMutantMollusk: I seem to recall a very loud and sustained wailing when even the idea of regulation was mentioned


"A voice is heard in Wall Street, weeping and great mourning, shareholders weeping for their dividends and refusing to be comforted, because they down 3% this quarter."
 
2012-02-25 01:04:39 PM  
Because he's no less big business than the GOP. However, assuming he did want to prosecute them, which isn't true, doing so would make the GOP scream bloody murder. Holding businesses to rules and laws is foreign to them. So it won't happen no matter what.
 
2012-02-25 01:18:53 PM  
Because he's lulling them into a false sense of security and in his second term there will be a reckoning? Right? RIGHT?

I can dream . . .
 
2012-02-25 01:21:17 PM  
Because banks are sovereign citizens.
 
2012-02-25 01:22:36 PM  
Because Democrats are sham-progressives, owned by the same 1% that owns the Republicans?
 
2012-02-25 01:24:23 PM  

DirtyDeadGhostofEbenezerCooke: Because Democrats are sham-progressives, owned by the same 1% that owns the Republicans?


I think there is a difference, policy wise.

Both parties disproportionately represent the 1%. However, republicans go so far as to resenting you for not being in the 1%. Oddly enough, even poor republicans do this.
 
2012-02-25 01:25:30 PM  
Well, at least we can thank God for competition! Without it, we'd be left to the unscrupulous vices of a very few individuals.
 
2012-02-25 01:25:48 PM  
Because he knows, just as every other POTUS before him back into days of yore, that the banks own enough pols both right and left that any real attempts to prosecute even the worst offenders would fail spectacularly?

/Plus the whole "kill his corporate contributions for 2012" thing.
 
2012-02-25 01:26:24 PM  

I Said: Both parties disproportionately represent the 1%. However, republicans go so far as to resenting you for not being in the 1%. Oddly enough, even poor republicans do this.


I'll never understand why people who barely make ends meet vote for a party that wants to lower their wages and make them pay more taxes, while giving tax cuts to the rich.
 
2012-02-25 01:28:29 PM  
This right here is what pisses me off most about Obama and the Democratics. It's the reason I voted for McCain. You can bet your wrinkled old white ass he would have frog marched those banksters right into prison for life.
 
2012-02-25 01:31:56 PM  

RedPhoenix122: I Said: Both parties disproportionately represent the 1%. However, republicans go so far as to resenting you for not being in the 1%. Oddly enough, even poor republicans do this.

I'll never understand why people who barely make ends meet vote for a party that wants to lower their wages and make them pay more taxes, while giving tax cuts to the rich.


During the growth of the TEA Party movement there were many polls and quotes from the rallies showing how these people HATE welfare but largely receive it, and when confronted with the hypocrisy, fall back to "I don't care. It's different for me".

The NY Times has this great, short piece on it: Link (new window)

This is going to sound harsh but: these people are simply assholes.
 
2012-02-25 01:32:04 PM  
Because blaming Obama for how the banks are run is like blaming Ronald McDonald for your shiatty cheeseburger -- neither of them run the company.
 
2012-02-25 01:35:45 PM  

ecmoRandomNumbers: Because blaming Obama for how the banks are run is like blaming Ronald McDonald for your shiatty cheeseburger -- neither of them run the company.


I'd blame the FDA if the cheeseburgers poisoned millions but McDonald's didn't face severe penalties.
 
2012-02-25 01:37:52 PM  
I probably have the wrong government agency in there. But . . .you see what I mean . . bah, I lost this one before it began.

I don't think anyone blames Obama for what the banks did. I do want to see, however, the federal government go after these guys and lay down STRICT regulations on leveraging, inter-bank trading, and throw the burden of proof 100% at them for foreclosures, to name a few things.
 
2012-02-25 02:20:24 PM  

propasaurus: This right here is what pisses me off most about Obama and the Democratics. It's the reason I voted for McCain. You can bet your wrinkled old white ass he would have frog marched those banksters right into prison for life.


LOL no.
 
2012-02-25 02:30:55 PM  
img.photobucket.com
 
2012-02-25 02:37:23 PM  

ecmoRandomNumbers: Because blaming Obama for how the banks are run is like blaming Ronald McDonald for your shiatty cheeseburger -- neither of them run the company.


He does, however, run the policing agency who could prosecute the banks. He didn't. That's on him.
 
2012-02-25 02:39:20 PM  
Because you touch yourself at night.
 
2012-02-25 02:58:21 PM  
Because the settlement doesn't preclude other criminal and/or civil investigations, lawsuits, etc.?
 
2012-02-25 03:28:41 PM  

GAT_00: Because he's no less big business than the GOP. However, assuming he did want to prosecute them, which isn't true, doing so would make the GOP scream bloody murder. Holding businesses to rules and laws is foreign to them. So it won't happen no matter what.


Both sides are bad, so vote Democrat eh?
 
2012-02-25 03:34:55 PM  

Saborlas: Because you touch yourself at night.


Oh, you.
 
2012-02-25 03:49:41 PM  
because SOCIALISM
 
2012-02-25 03:49:41 PM  

CanisNoir: Both sides are bad, so vote Democrat eh?


Saying "Both sides are bad" is being obvious.

Saying "Both sides are equally bad" is being oblivious.

Does that help?
 
2012-02-25 03:56:04 PM  
because, as a card-carrying communist, obama is a wall street shill!

he's also a

fascist/socialist
muslim/radical black christian
empty suit/dangerous tyrant
 
2012-02-25 04:35:39 PM  
Are you implying that Obama has homosexual tendencies?
 
2012-02-25 04:51:37 PM  
Because money is power.
 
ecl
2012-02-25 04:54:27 PM  

jehovahs witness protection: Are you implying that Obama has homosexual tendencies?


Are you implying you have homosexual fantasies about the president?

NTTAWWT
 
2012-02-25 04:55:07 PM  

Saborlas: Because you touch yourself at night.


Sorry everyone. My bad.
 
2012-02-25 04:56:53 PM  
Ya, this is my biggest disappointment with the Obama administration. I'm hoping it's because they don't want to make any ripples that could upset the economy when it's so fragile, and that in his second term, he would pursue the proper criminal investigations and break up these large banks. But that could just be a pipe dream.
 
2012-02-25 04:57:34 PM  
Cause he's a house president
 
2012-02-25 04:58:23 PM  
Because he is a (D) and gets a free pass on everything here at Fark?
 
2012-02-25 05:01:26 PM  

moralpanic: Ya, this is my biggest disappointment with the Obama administration. I'm hoping it's because they don't want to make any ripples that could upset the economy when it's so fragile, and that in his second term, he would pursue the proper criminal investigations and break up these large banks. But that could just be a pipe dream.


I've heard a few rumors about him at least trying to investigate. Problem is that he has a really understaffed department. It could be that he just doesn't want to hand his own head to the GOP on a silver platter, though.

/Which says quite a lot about the GOP, our country, and the politics of both.
 
2012-02-25 05:01:59 PM  
Because despite the GOP mantra that Obama is an ultra-liberal socialist commie, he's really right-of-center.
 
2012-02-25 05:02:12 PM  

crotchgrabber: Saborlas: Because you touch yourself at night.

Sorry everyone. My bad.


+1 for the login name
 
2012-02-25 05:02:36 PM  
This is the delicious irony of the DEMONratic Party. They act as though they reprisent the 99% percent and hate rich people but in fact are rich themselves. Did you know that 9 out of 10 of the richest congressmen are Ds???
 
2012-02-25 05:06:47 PM  

I Said: The NY Times has this great, short piece on it: Link (new window)

This is going to sound harsh but: these people are simply assholes.


I love the attitude of "well we grew up believing a system should work a certain way, and now that I'm the age at which the system is supposed to benefit me, any and all changes should take place so as to hurt younger, working class people and future retirees."
 
ecl
2012-02-25 05:07:41 PM  

OneTimed: This is the delicious irony of the DEMONratic Party. They act as though they reprisent the 99% percent and hate rich people but in fact are rich themselves. Did you know that 9 out of 10 of the richest congressmen are Ds???


5/10

DEMONratic is just dumb enough for you to retain believability.
 
2012-02-25 05:08:17 PM  
Because he needs their money for his and the other dems re-election campaigns. duh.
 
2012-02-25 05:12:42 PM  
Fark thread 6962315: In which Republicans whine because they got what they wanted. Again.
 
2012-02-25 05:14:20 PM  

Dinki: Because even if they wanted to put the smack down on the banks (which they haven't shown any real willingness for), the GOP and it's mouthpiece Fox would have screamed that the Administration was trying to interfere in the free market, was trying to micromanage the financial industry; and was stealing from the Job Creators TM.


awww, ignorance stops being cute at age 8. Go ahead and look at the bankers/wall streeters in Obama's administration.
 
2012-02-25 05:16:38 PM  

Dinki: Because even if they wanted to put the smack down on the banks (which they haven't shown any real willingness for), the GOP and it's mouthpiece Fox would have screamed that the Administration was trying to interfere in the free market, was trying to micromanage the financial industry; and was stealing from the Job Creators TM.


yeah but they'll say those things anyway.
 
2012-02-25 05:22:05 PM  
Politics is the art of the possible. In the final analysis it is not possible to deliver the banksters the punishment they deserve without pulling the entire system down on our heads. Elect Democrats to Congress, reelect Obama, and see what happens four years from now.
 
2012-02-25 05:22:24 PM  
Can we, the people, vote to hang the bankers from the highest yardarm?
 
2012-02-25 05:23:42 PM  
i.imgur.com
 
2012-02-25 05:28:28 PM  
...Because banks actually run America? Is this not obvious to everybody?
 
2012-02-25 05:29:48 PM  

Lando Lincoln: ...Because banks actually run America? Is this not obvious to everybody?


Mass denial.
 
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