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FDIC Criticizes Massachusetts Bank With No Bad Loans for Being Too Cautious

Discussion in 'Political Discussion' started by patsfan13, Mar 18, 2009.

  1. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Punished for doing the right thing and not needing a bailout. I remember many saying the Feds weren't forcing banks to make subprime loans?????


    FOXNews.com - FDIC Criticizes Massachusetts Bank With No Bad Loans for Being Too Cautious - Local News | News Articles | National News | US News

     
  2. tanked_as_usual

    tanked_as_usual Banned

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    would one say that East Bridgewater Savings Bank has a liberal or conservative method of doing business?
     
  3. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    Liberals:
    If it feels good do it.
     
  4. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    It would say that the FDIC is trying to dictate how the bank does business. CRA anyone?
     
  5. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    Thank you for proving the point that the banks were not forced to make bad loans as some conservatives have claimed. If they need to improve, it means they should be more willing to lend money to credit-worthy individuals who want to invest in poor areas. The CRA, by promoting investment in poor areas, basically uses capitalism to develop those areas, as opposed to government funds.
     
  6. tanked_as_usual

    tanked_as_usual Banned

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    why shouldn't they just be allowed to lend money in a prudent manner? arm-twisting a bank to lend money at a higher risk is not capitalism
     
  7. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Actually this proves that banks are pressured to make bad loans. Not suprised to see a lib trying to spin this, B Frank and C Dodd would be proud.
     
  8. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    They might be pressured, but they did not have to acquiesce. Politicians right and left pressure business all the time, but that doesn't mean businesses have to cave. Maybe conservative business leaders are just weak and spineless and are easily shoved around? Is that your point? After all, many of them do lead cushy lives. If Barney Frank knocked on your door and insisted you donate $100 to the UN, would you do it?
     
    Last edited: Mar 18, 2009
  9. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Perhaps they did not seek to merge or expand thier business giving the FDIC an excuse to punish them for not bending to the pressure the FDIC is clearly applying. Is this an example of excessive deregulation from your POV?

    I am not a banker, when MR Frank and his cohorts raise my taxes they will not knock on my door byut the IRS will if I don't comply with thier wishes.
     
  10. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    Yes, but you're talking about law, not pressure. Of course, if there's a law in place, most of us will comply, even if we don't like the law. But, with regard to lending policies, my point is that lenders (in a few areas) were pressured, but not forced to make loans. Some did not cave.
     
  11. tanked_as_usual

    tanked_as_usual Banned

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    just the concept of a federal entity pressuring a bank to increase risk is against any foundation of sound business practice and there for anti-capitalist in nature
     
  12. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    Federal entities constantly use pressure -- under Bush and Reagan, it was pressure against groups and companies that supported abortion rights and sometimes gay rights; it was pressure against entities that used what they felt was inappropriate language; it was pressure against labor unions; it was pressure against alternative energy businesses and many biotech startups, especially those that favored stem cell research. Are you really so ignorant to the way politics works, and think of things is such simple terms that Democrats are bad and Republicans are good? Our country has almost always worked the way it works now, and politicians are expected to use pressure to serve the public interest. That's why they are so often given public forums in which to present their ideas. That's part of the nature of democracy.
     
  13. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    What pressure was applied to coerce thw bahvior of these groups????

    Are you refering to not funding them the way they wanted to be funded?

    Please be specific??:confused:
     
  14. tanked_as_usual

    tanked_as_usual Banned

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    errr.........yeah..........

    I believe both democrats and republicans are bad........you're the idiot who thinks only the dems are good..........

    given the fact that our goverment is made up almost entirely of lawyers who are unqualified to implement anything of medical, economic, or social importance, I simply choose the side that takes less money out of my pocket............everything else doesn't matter.......I can make anything happen regardless of what group of clowns is imposing their idealogue on society
     

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