Skip to comments.President pressures bankers to lend more; back reform bill
Posted on 12/14/2009 1:40:56 PM PST by Nachum
WASHINGTON (MarketWatch) -- President Barack Obama on Monday pressed the chief executives of the nation's largest banks to lend more to small businesses, increase their assistance to troubled homeowners and end their opposition to bank regulatory reform legislation moving on Capitol Hill.
"I urged these institutions here today to go back and take a third and fourth look about how they are operating when it comes to small business and medium-sized business lending," Obama said after meeting at the White House with the bankers. "Banks could be doing more to lend to small businesses." See full text of Obama's remarks.
The president met with the executives after calling them "fat cat bankers" on network television Sunday night and attacking their multi-million-dollar bonuses on CBS's "60 Minutes" program.
(Excerpt) Read more at marketwatch.com ...
The list, ping
Nah, it’s more like he’s telling them to get the money fast; so we can get it into the private slush funds before those silly saps out there who voted for me are any the wiser.
If they ask; I will just start playing my “I am the Messiah” act and they will bow down.
Folks it was loose lending practices that got the banks in trouble in the first place. Now that they have been tightened up Obama wants the financial institutions to get lax again. If they do they will probably create the same problem all over again. Unbelievable. We are doomed. And three more years of this guy
I think this is just to pick another demon, just like when Po Pot executed innocent scapegoats because his communists couldn't manage a few rice patties.
So we don't care if we are out of a job, as long as we have someone to blame, let's see:
GWB, Rush, FNC, the banks, Wall Street, Chamber of Commerce, Health Insurance companies, Wow, the list of evil-doers screwing us for profit is growing. Good thing we have Obama!
The main idea of fractional reserve is a scam whereby
a banker could loan money he didn't have and never had.
It actually permitted banks to create new money, based
not on gold, nor on his own credit, but on the credit
of his customers.
Average employee salary:
Average employee health cost without Obamacare:
Average employee health cost with Obamacare:
Percentage likelihood of Obamacare being implemented.
Are you unionized?
Will you be if secret ballots are eliminated and union organizers can "pursuade" your employees?
How much do you owe in energy taxes?
How much will you with Cap&Trade?
What is your tax rate?
What will it be once President Bush's tax cuts are eliminated?
How much will it be if Obama gets to set it at 100%?
Hmm, I don't feel very certain about anything dealing with small business in the near future.
Obamie is setting up a scape goat for his failure.
He fully intends to blame continued joblessness not on his failed trillion dollar stimulus nope he will blame wall street and the banks for not putting themselves further at risk for no profit.
Epic failure as a president.
My husband is a small businessman...his business has fallen off considerably this year. We could get a loan tomorrow if we wished...but NO business is going to borrow in this climate when owners don’t know what’s coming next. It’s batten down the hatches and survival mode. FIRST, you don’t go for loans when you are just trying to make payroll and keep your business afloat. Unlike government, we can’t just print money when we run out. SECOND, loans have to be repaid and the “unknowns” of this administration makes it impossible for business to plan. To really stimulate small business growth, cut taxes and stop all of the talk about cap and trade, health care, etc. But we know that Obama could care less...it’s all about power.
So when youre local liberal starts spouting the manufactured line that greedy bank execs wrote sub-prime loans to get rich on poor unknowing people (who must be protected by your average Democrat), its easy enough to tell them that redlining (resisting the adoption of bad debt) was exactly what the Community Reinvestment Act was written to override and with the help of ACORN, it worked perfectly. And when their eyes glaze over because they’re trying to think with their feelings, say, And their trying to do it again! What a bunch of fools. I hate them all.
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