Why do Republicans oppose ANY banking regulation reform?I don't understand? Why not try to help the process and make sure that any reforms that are implemented are meaningful and thoughtful? -- The tension level in the debate on U.S. financial reform rose on Thursday as Democrats slapped back at a Republican leader's comment about "punk... |
First of all, unless you have worked at a bank, you have no idea how many regulations there are. You can reform banks but, unless you reform employees, it might not do any good. As far as abusive mortgage loans, have knowledge of what your getting yourself into. Do research for the best loan for you.
Actually, most Republicans don't oppose any banking regulation. Also, there is a huge difference between the Democrats writing a bill and having bipartisan support. Remember that the House doesn't need any Republicans to pass legislation. Also, how does adding more Government oversight that will not talk with each other help?
Some regulations only force businesses into making bad business decisions. Regulations are not a bad thing if they lead to better business practices that keep our economy sound but other regulations only lead to severe recessions like we are now experiencing. I watched one senate hearing on these new regulations and Republicans argued with Dodd that his bill would only make matters worse. At this point, I have little doubt they were right.
Because the bankers line their pockets.
And that, to a large degree, is how we got in this financial mess in the first place: between 2001 and 2007, and Republicans looked the other way while the bankers loaned out too much of their liquid reserves.
If the federal government had bothered to enforce banking regulations that were ALREADY in effect during those years, the cascade of defaults that has led to worldwide financial crisis would never have occurred.
Obviously the fatcat bankers are cronies of the politicians of both parties, which is why they got the big bucks for the bailouts.
And which is why they got away with giving themselves big bonuses at the taxpayers' expense.
And to thank the taxpayers, they raised credit card interest rates, again.
Congress rewards their cronies and special interests with the lion's share of the money that they loot from the American economy.
One of the great ironies of American politics is that many of the people the GOP have suckered in, do NOT benefit from Republican Party ideologies.
GOP policies are primarily geared to help the rich get richer. If they can also sucker in a few fringe groups (gun nuts, religious zealots, pro-lifers, etc.), all the better, as long as the wealthy old man's club continues to get wealthier.
They may not even realize it, but the rest are baggage, along for the ride ...
Because big business, banking included does not want to be regulated, and the republicans have historically been in the business of supporting big business.
If left alone banks we fine when pushed to give loans to unqualified borrowers it what caused all the problems.Like most thing if left alone business does fine get the government involved and things turn into crap.
What, and ruin their gold lined pockets? Reagan de-regulated the banks.
We did not have one bank failure from WWII until 1980. What does that tell you?
Ronald Reagan brainwashed them
