A Ticking Time Bomb

Surely the myopic population of this country can remember back to 2008, right?  I know it is a stretch for most so-called conservs to think back that far….

2008?  Mindless drones that was the year of the Wall Street meltdown lead by the illegal practices of our biggest banks….does it ring any bells in that thick skull now?

Guess what?  The Trumpian bullshit is about to set the wheels of yet another meltdown in motion…..

The Senate passed bipartisan legislation Wednesday designed to ease bank rules that were enacted to prevent a relapse of the 2008 financial crisis that caused millions of Americans to lose their jobs and homes. The Senate voted 67-31 for a bill from Republican Senator Mike Crapo of Idaho that would dial back portions of the law known as Dodd-Frank, the AP reports. The legislation would increase the threshold at which banks are considered so big and plugged into the financial grid that if one were to fail it would cause major havoc. Those banks are subject to stricter capital and planning requirements.

“The bill provides much-needed relief from the Dodd-Frank Act for thousands of community banks and credit unions, and will spur lending and economic growth without creating risks to the financial system,” the White House said in a statement after the vote. Republicans unanimously supported the bill, while Democrats splintered into two camps. One included several senators from rural states who worked out the compromise with Crapo. The other, led by Sens. Elizabeth Warren of Massachusetts and Sherrod Brown of Ohio, said the bill catered too much to the banks that contributed to the financial crisis and would increase the likelihood of future taxpayer bailouts. (President Trump complained that Dodd-Frank made it hard for friends to borrow money.)

It is amazing how when Repubs are in charge they kill regulation and then things go to shit and a Dem usually has to clean up their economic messes…..looks like that trend will not end with this president…who is still dick deep in the financial world and I am guessing that this will benefit him and his buds on Wall Street.

This is why Democrats have a problem with message…..

Bought and paid for by Wall Street…..TRAITORS!

28 thoughts on “A Ticking Time Bomb

  1. The Banking Meltdown didn’t phase me a bit and my losses were minimal because I had the good sense to re-arrange all my interests into something more or less bullet proof and a lot of what I did had to do with annuities over risks. The good news is that despite the dreaded meltdown everything has recovered and the markets are better than they have ever been and I have recouped all my minimal losses and am better off now than ever before. If others were smart and planned appropriately I am sure they suffered nothing major in the meltdown either.

    1. Smart move but unfortunately that everyone can claim that attribute….I know at least 11 people in my area that were considered “smart” that have not recovered….and I feel it is only a matter of time before it happens again…..and I believe the trends on Wall Street say it may be worse this next time….chuq

      1. At a certain fiscal level it is entirely possible for the prudent investor to create solid, proven and effective defense mechanisms against these market fluctuations and it behooves anyone who cares about maintaining their stability to learn what these mechanisms are and how to implement them for the protection of their own bottom line. Every potential problem has a solution and every crisis has some kind of insurance associated with it. Good fortune can be made iron-clad if people are not cavalier or careless in their decision making. That’s why it pays to have the best brains at ones’ disposal.

      2. Again greed is not 20/20……John not all “brokers” are the best minds…..you did good finding a good one chuq

      3. I couldn’t afford to take that chance because the stakes were too high. Individual circumstances are often far different from that of Corporate-level circumstances and when finances reach a certain level there is no way they can be maintained or managed with the same methods used by individuals.

      4. That is true….my case was my personal LLC….if one needs a corporation then wise consultation is advisable…..chuq

      5. 2 of the 11 have never recovered complete and 7 others are living below their standard of 2008…..I guess they found an adviser….when I played the markets I did my own work and research……I never trusted anyone with my money…….chuq

      6. Everybody has their own business model, Chuq and I am thrilled that yours worked well for you.

      7. I would agree that to be sound reasoning but I prefer others do the research and the math so I can be free to cash the monthly disbursements.

      8. Any cash that could be considered as mine came in the form of a monthly salary approved by one or more boards of directors. I never involved myself in the mechanics of investing except to approve expenditures.

    1. This administration is digging a hole into our protections that will take years to undo just like every administration has done since the very first one took office in the 1700s. Nothing new here.

    1. Politicians should be allowed to take donations but the upper limit on such donations should be fixed by law and anyone who runs for an office would have to be accountable for all monies spent on a campaign and any candidate running over budget by a pre-determined percentage would be disqualified and barred from running for the office he or she is seeking.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.