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(Think Progress)   Tim Pawlenty, who stepped down as co-chairman of the Romney campaign to take a job as a bank lobbyist, says that banks should regulate themselves   (thinkprogress.org) divider line 38
    More: Obvious, Tim Pawlenty, Fox Sports Radio, Minnesota Governor, retirements, Round Table, lobbyists, Colorado, Dodd-Frank  
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1775 clicks; posted to Politics » on 24 Sep 2012 at 5:49 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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vpb [TotalFark]
2012-09-24 04:33:28 PM
6 votes:
Yes, and criminals should arrest and prosecute themselves.
2012-09-24 04:32:59 PM
4 votes:
1.bp.blogspot.com

Too bad you didn't do the right thing the first go round.
2012-09-24 05:51:58 PM
3 votes:
This is as clear of a sign as anything that Pawlenty is running in 2016. He has the credentials (to the GOP) from his time as governor, now he's going to shore-up the financial sector support by crusading for them and padding his Rolodex....and coffers.

My words. Mark them.
2012-09-24 04:46:14 PM
3 votes:
Also, if the laws aren't needed, because banks will just do it anyway, why do the banks want those laws removed?
2012-09-24 08:41:19 PM
2 votes:
Electing Romney after what happened in 2007-2008 is akin to marrying your rapist to hide the shame. He'll do it all over again, only this time it's with "consent".
2012-09-24 08:02:50 PM
2 votes:
We'd make some actual progress in this country if we:
1) Publicly funded elections
2) Banned lobbying.
2012-09-24 06:49:19 PM
2 votes:
It makes sense when you realize there are people who only want the country to work well enough for them to loot it. Actually letting the little people build any wealth would be bad for them.
2012-09-24 06:34:23 PM
2 votes:
From the same crowd that thinks welfare recipients should be subjected to drug tests, background checks, immigration checks, job search checks... How come human welfare recipients shouldn't be allowed to regulate themselves like corporate welfare recipients?
2012-09-24 06:33:43 PM
2 votes:
Yes they should. But they won't, because they expect the government to take care of them despite their poor decisions.

Bunch of farking welfare queens.
2012-09-24 06:10:49 PM
2 votes:
imageshack.us

Ask your grandparents how well that turned out last time.
2012-09-24 06:03:46 PM
2 votes:
He is completely right.

However, banks must also be allowed to fail due to their own mistakes.
2012-09-24 05:58:36 PM
2 votes:
Can we have the Glass-Steagall Act back please before these arseholes destroy what left of the economy?
2012-09-24 04:54:34 PM
2 votes:
And bridges repair themselves.
2012-09-24 04:38:53 PM
2 votes:

vpb: Yes, and criminals should arrest and prosecute themselves.


Citizens should be trusted to pay the taxes they owe. The IRS is completely unnecessary and onerous oversight.
2012-09-25 03:39:05 AM
1 votes:

CrackpipeCardozo: Lee Jackson Beauregard: THEY'RE NOT GOING TO DO IT VOLUNTARILY.

Not under the status quo, but I don't think it's completely outside the realm of possibility for financial institutions to take on some degree of self-imposed restraint. The current state of irresponsibility is due to a cause/effect relationship of some sort, but causal changes can result in different effects.


And the one billion dollar question is...
Will those changes make them more money? Regardless of any other exterior changes in the economy of the nation, the planet, the universe, whatever. Drought, famine, pestilence, war, the second coming of the messiah, a mile-wide meteor striking the earth, the polar ice caps melting and inundating the planet with an extra 60 meters of water, none of that matters.

All the matters is "Will - those - changes - make - the - bank - more - money?
The answer to this query will determine their actions, and nothing else.

This is why they farked the whole world when they did what they did. This is why they cannot be trusted to self-regulate.

Ever.

This one question.
2012-09-25 12:56:40 AM
1 votes:
Tim who? I've met bowls of oatmeal with more personality.
2012-09-24 11:24:53 PM
1 votes:

propasaurus: I think we have to count on the banking industry to self regulate. They're in the best position to know what their problems are. But it has to be done in concert with government regulations.
Which is why we should repeal Dodd-Frank.


Weeeeeeelllll....OK

But only if we reinstate Glass-Stegal instead.
2012-09-24 11:18:58 PM
1 votes:

Lee Jackson Beauregard: THEY'RE NOT GOING TO DO IT VOLUNTARILY.


Not under the status quo, but I don't think it's completely outside the realm of possibility for financial institutions to take on some degree of self-imposed restraint. The current state of irresponsibility is due to a cause/effect relationship of some sort, but causal changes can result in different effects.
2012-09-24 10:02:58 PM
1 votes:
I almost choked on my goddamn sandwich when I read this sh*t.
Mr Pawlenty, might I suggest you look at the last ten or so years of American history before you blurt out something so goddamn f*cking stupid the next time? Do you realize how many people in their walnut-paneled boardrooms probably read this and burst a gut laughing... at you?

If the asshats that ran the banks could be trusted to control and regulate themselves at any time in our history, there would not be an assload of laws and agencies needed to watch them. Same with most corporations... until they were forced to, they would not regulate themselves because doing the right thing is never as profitable (in their eyes and in the sort term) as doing the wrong thing. 

This guy is out of his mind.
2012-09-24 09:55:53 PM
1 votes:
Why do people keep falling for it and letting these guys guard the chicken coup? You know that once you look away they're just going to start farking those chickens, but you keep on doing it.
2012-09-24 09:27:21 PM
1 votes:
images3.wikia.nocookie.net

What Tim Pawlenty might look like.
2012-09-24 07:33:00 PM
1 votes:
"But the obligation and the opportunity of the organizations is to put controls in place and a culture in place that minimizes the likelihood of that, but does it voluntarily."

Why, T'Pau? Why should it be voluntary? My underwriting your evil-minded shiat isn't voluntary. My participation in the system that feeds these pieces of trash until the bankers themselves start to look like human balloons made entirely of stolen money isn't voluntary. Why should it be "voluntary"?

Because here's what I get when I think "voluntary". I think fark your system, I refuse to cooperate. I "volunteer" to expropriate everything that's been stolen. I "volunteer" to start building scaffolds and guillotines. How's that for voluntary?

You want your capitalist gravy train? You'd better farking hope the regulators reign this shiat in before even more people start contemplating what they could "volunteer" to do.
2012-09-24 07:13:51 PM
1 votes:

MaudlinMutantMollusk: They never freakin learn, do they?


What do you mean, learn? Learn from what? You made the false assumption that these jackasses give a flying fark about us regular people beyond the lies they tell in front of cameras. Banks found out that politicians will just bail them out, the rich got richer, corporations have made record profits, and the average worker is so desperate for a job now they'll work for less. Nobody responsible was held accountable or sent to jail and nobody will be, no meaningful reform has happened or likely will. What makes you think people like Romney, Pawlenty, and the Financial Services Roundtable and other groups/corps like them aren't quite happy with the results?
2012-09-24 06:27:52 PM
1 votes:
Well, banks SHOULD regulate themselves. But there's not a chance in hell that they actually would if you let that be the only check on their behavior.
2012-09-24 06:24:47 PM
1 votes:

Philip Francis Queeg: palelizard: Calmamity: vpb: Yes, and criminals should arrest and prosecute themselves.

Citizens should be trusted to pay the taxes they owe. The IRS is completely unnecessary and onerous oversight.

Other countries can be counted on to not invade anyone. We have no need for a military.

We can trust people not to enter the country without the proper approvals. The border patrol should be disbanded.


People certainly value their cars and lives and can be trusted to drive responsibly. There is no need to have traffic signs, speed limits and lights telling them how to act or traffic police to enforce the rules.
2012-09-24 06:10:04 PM
1 votes:
He is right. Banks should regulate themselves. Since they don't we have create laws to regulate them.
2012-09-24 06:05:09 PM
1 votes:
Let banks fail. No bailouts or freebies they stand on their own without one cent from the taxpayer. Sounds good to me.
2012-09-24 06:03:30 PM
1 votes:
So Pawlenty is an ardent supporter of Standard Charter Bank's money-laundering scheme with Iran? It's nice to know a leading Republican supports terrorists regimes.
2012-09-24 05:59:16 PM
1 votes:
Because that worked SO WELL the last time.

So, here are two options:
Very strict regulations to prevent too-big-to-fail banks, no bailouts for failure, minimal regulations otherwise (you fark up, you fail, you go out of business - self-interest says don't fark up)

OR

You can become a behemoth and have some sort of safety net, BUT subject to strict regulations so that you can't fark up so badly

Which do we do?
2012-09-24 05:58:11 PM
1 votes:
I agree that child molestation is bad, but ultimately it's up to the molesters to regulate themselves. Control your urges people, geez! And problem solved.
2012-09-24 05:55:43 PM
1 votes:
Yeah, that worked out so well in 1928 and '29.
2012-09-24 05:53:39 PM
1 votes:

palelizard: Calmamity: vpb: Yes, and criminals should arrest and prosecute themselves.

Citizens should be trusted to pay the taxes they owe. The IRS is completely unnecessary and onerous oversight.

Other countries can be counted on to not invade anyone. We have no need for a military.


We can trust people not to enter the country without the proper approvals. The border patrol should be disbanded.
2012-09-24 05:52:29 PM
1 votes:
When you privatize the profit and socialize the risk where is their motivation to self-regulate??

Sorry T-Paw, you're a farking moron.
2012-09-24 05:06:26 PM
1 votes:
Pawlenty...expects the banking industry to self-regulate,ostensibly having learned from their mistakes?

................

media.tumblr.com
2012-09-24 05:04:02 PM
1 votes:
"Bank lobbyist". I have to take a sonic shower just after reading those words.
2012-09-24 04:48:10 PM
1 votes:

Calmamity: vpb: Yes, and criminals should arrest and prosecute themselves.

Citizens should be trusted to pay the taxes they owe. The IRS is completely unnecessary and onerous oversight.


I like this game. With Romney's "self-deportation" plan we can also get rid of ICE.

Think of the savings!
2012-09-24 04:30:27 PM
1 votes:
"Stop doing stupid things."

Ball is in your court, Tim.
2012-09-24 04:27:39 PM
1 votes:
In his first press conference since being named head of the Financial Services Roundtable, former Minnesota Gov. Tim Pawlenty said he would seek a "refinement" of the Dodd-Frank Act, but also added that banks need to do more to regulate themselves.

This coupled with

Of course, the anticipation that banks would self-regulate - rendering federal regulations unnecessary - was part of what caused the financial crisis in 2008. Romney has pledged to repeal the Dodd-Frank law.

this has me doubting they'll do it without being forced to. Sorry Timmeh.
 
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