Do you think that Obama's war on Banks and financial institutions will back fire on consumers?

Question

I know how bad banks with all the fees they keep adding and the interest rate they keep increasing on consumers. Even Politician passed new bill on bank charges and fees still banks found a way to to overcome that decision. Banks will always find ways to make profit and we the consumers end up paying for it while politicians  go on like its another day at the office.

Matt · Accepted Answer

There is a problem on Wall Street that everyone should be concerned about.  Attacking bankers and instigating a class war, is not going to be the answer.  The democrats have got to quit making this a rich vs. poor, black vs. white, or Wall Street vs. main street battle.  Their tactics are simply pathetic and dangerous.

If he is able to find out who it is that is manipulating the markets, and put an end to it, I don't think it will impact banking consumers.  The culprit will likely be hedge funds.  Probably independent hedge funds, and large banks with hedge funds.  The plan he announced today might be a great idea.  To not allow large banks to have hedge funds, or invest their own money.  When these same banks are rating stocks, influencing the media, and controlling debt, you could end up with some serious corruption.  I don't know if the large banks are the problem or not, but it could be possible that some of these financial institutions have gotten so large and diversified, they have an enormous amount of power which is getting in the way of the free market.  It would be a major threat to our entire economy, if Wall Street is determining who is going to succeed and who is going to fail, by using rating agencies, the media, hedge funds, and playing games with debt.  

Forcing consumer lending standards is just another bad democrat idea.  The government getting involved in lending practices, was a big part of the problem to begin with.

Ingrid · Answer

What War on Banks. They have been given golden spoons. 
Keep looking, there are still a few small Banks which have the customer's well-being at Heart.
Let us support them. They do not hand out Million Dollar bonuses to employees who are
destroying them.

? · Answer

The only article I have regarding the "war on banks" was this.

http://www.msnbc.msn.com/id/34972345/ns/business-stocks_and_economy/

Which discusses the big drop in the stock market due to Obama's current policies regarding banks.

Spartan L · Answer

War on banks?
I thought the government couldn't do enough to help-out their friends.

Do you think that Obama's war on Banks and financial institutions will back fire on consumers?

4 Antworten