BF2S Forums Occupy Wall Street

But for those industries, calls for regulation have come after those industries have proved they can't self regulate.

If banks had their way, they'd be giving out volitale loans left and right, decrease the amount of capital on hand to as low as possible, then ask the government for money when that business model failed.

What's your solution if you don't think government regulation will help?

The banking industry proves about every twenty years that they need government regulation.  Freeing the banks is not only a very vague answer, it doesn't work either

Jay wrote:

RAIMIUS wrote:

Jay wrote:

Yes, it is.

Not necessarily, but all the OWS ideas for doing so did wind up calling for more government control/power.

Generally, that's how one figures out the philosophy of sides today.  Look at who gets more control...
Liberals: generally like to give power to the Gov.
Conservatives: generally like to give power to individuals or corporations.

Banks and health care/insurance are the two most heavily regulated industries in America. Banks are told how much interest they can charge, how much they can charge retailers for debit card fees, how much they can charge for atm usage fees, how much insurance they must keep on deposits, how much of deposits they must keep in reserve when lending. Basically there isn't a single aspect of the banking industry that isn't dictated from Washington and yet people blame banks for all their woes. Don't demand more power for the retards that created the mess in the first place!

The only power bank lobbyists have is in somewhat blunting the efforts of politicians feeding off of idiot populism. If the population had their way banks would be forced to give out zero interest loans with optional monthly payments.

Curtailing the ability of banks to exert control over govt, and the ability of govt to be controlled by banks = 'expanding govt'?

The bankers and financial institutions have a direct line into govt and access to unlimited tax-payer funds when they gamble and lose, and retain their profits when they win, whereas the 99% get to 'vote' for one of two identical parties once every 4 years and carry any and every loss they make.

Not sure how regulating govt = expanding govt but whatever...

KEN-JENNINGS wrote:

FEOS wrote:

KEN-JENNINGS wrote:

But for those industries, calls for regulation have come after those industries have proved they can't self regulate.

If banks had their way, they'd be giving out volitale loans left and right, decrease the amount of capital on hand to as low as possible, then ask the government for money when that business model failed.

What's your solution if you don't think government regulation will help?

Banks wouldn't give out volatile/risky loans if they weren't forced to. They like their money as much as the next guy.

Deflecting back to this argument, eh?  This whole debacle was solely the result of CRA. Ok, I guess we're done here

The banks were kicking and screaming while they gave out all those loans that eventually got covered by the government who had already set a precedent for covering their losses and fuckups.

KEN-JENNINGS wrote:

The banking industry proves about every twenty years that they need government regulation.  Freeing the banks is not only a very vague answer, it doesn't work either

Stop bailing them out and they will self regulate. This would mean getting rid of FDIC though, and no one will agree to that. Everyone wants to collect their free zero risk interest.

KEN-JENNINGS wrote:

'they will self-regulate'. Optimism or a pipe dream?
Can our society deal with any industry self-regulating? Seems like the volatility of an industry self-regulating is something I wouldn't want to have to live through.

99% of non bank/healthcare/airline/railroad businesses are self regulating. Every private company in the nation is self regulating. What you are saying is that politicians are more trustworthy, intelligent, and careful than everyone else. You have to be trolling.

i think i fully understand.  fed has some blame sure.  Greed has a lot of blame too.  When you want to add to the debate instead of telling me what I don't know, feel free.

@jay - politicians are people just like you and me.  Greed, profit motive, the want for power is what drives a lot of decisions.  I don't think the government is any more capable than you do for regulation.  But, something has to be done.  Comparing a private company to an industry seems a little more like trolling than me saying government needs to regulate industry.  Your idea of an industry self regulating is idealistic, aka not grounded in reality as we know it.

KEN-JENNINGS wrote:

i think i fully understand.  fed has some blame sure.  Greed has a lot of blame too.  When you want to add to the debate instead of telling me what I don't know, feel free.

@jay - politicians are people just like you and me.  Greed, profit motive, the want for power is what drives a lot of decisions.  I don't think the government is any more capable than you do for regulation.  But, something has to be done.  Comparing a private company to an industry seems a little more like trolling than me saying government needs to regulate industry.  Your idea of an industry self regulating is idealistic, aka not grounded in reality as we know it.

It's perfectly grounded in reality. It happens every single day. When I say self regulating, I mean that as a democratic process, the market corrects for poor behavior on the part of business and forces them to adapt to what we, the members of the market, want.

When Home Depot moves into a town does it drive every other business out instantly? No. Do many local businesses fail? Yes. Why? Because they can't compete with the prices offered or offset it with what Home Depot lacks: customer service. I have four Home Depot's and a handful of Lowe's all within ten miles of me, but I'd rather walk four blocks to the local hardware store because when I enter the store they immediately ask me if I need any help, and provide useful advice. When I ask for help at Home Depot they look at me like I just killed their child in front of them. I as a consumer have an impact on businesses, and I as the consumer pick the winners and losers. Every time the government gets involved in business it limits my options as a consumer. Are you aware that the vast majority of regulation on the books exists because one company is trying to gain advantage over its rivals by using political law? Those regulations aren't there to protect us, they're there to protect companies that can't compete without spending millions of dollars lobbying Congress, and we as the consumer suffer for it.

Let the banks do what they want. Let them charge obscene interest rates. Let them require $100,000 in a savings account. Who cares? I don't have to keep my money in a bank. The ones that actually want my business will offer me terms that are fair. The ones that don't will eventually wither and die. As long as we the taxpayer tell them to fuck off when they ask for bailouts, we'll be better off as a group.

This happens every day in every transaction we make. We make choices based on what works for us. If we're broke, we eat Dollar Menu feces. When we're not, we choose something healthier. Who knows what you need or want better than you do? No one. That is why granting the power of regulation to congress, or letting them dictate behaviors is fundamentally wrong. We know better than they do.

This happens every day in every transaction we make. We make choices based on what works for us. If we're broke, we eat Dollar Menu feces. When we're not, we choose something healthier.

McDonalds isn't any unhealthier than other foods. The problem is people don't understand moderation and also don't exercise. /140lbs. and eats fast food everyday

McDonalds only improved their menu because of external pressure, but a lot of it is still crap compared to what you could buy at the market instead.

Macbeth wrote:

unnamednewbie13 wrote:

McDonalds only improved their menu because of external pressure, but a lot of it is still crap compared to what you could buy at the market instead.

Sure we could all eat lettuce for lunch like rabbits but if you want something other than rabbit food...McDs runs as much of a chance of killing you as anything else.

...

lol.

Macbeth wrote:

This happens every day in every transaction we make. We make choices based on what works for us. If we're broke, we eat Dollar Menu feces. When we're not, we choose something healthier.

McDonalds isn't any unhealthier than other foods. The problem is people don't understand moderation and also don't exercise. /140lbs. and eats fast food everyday

It's not good food. Between the balloon like substance they call a bun and the wobbly patties they pass off as hamburger it's just terrible. I would rather eat White Castle and WC guarantees me diarrhea the next day.