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Thread: 3M chief warns Obama over business regulation

  1. #71
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    Re: 3M chief warns Obama over business regulation

    Quote Originally Posted by liblady View Post
    what cra did, and continues to do, is make it illegal to discrimate against borrowers based on race or income level. (redlining)

    now, what that means is that a black person with the same qualifications as white person would have to be given a loan if the white person was given that same loan. period.

    in NO WAY did CRA force banks to make bad loans. if it did, then why aren't they still making bad loans? seriously??
    So, CRA simply existed to stop the mean ol' racists from denying loans to black folks?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: 3M chief warns Obama over business regulation

    Quote Originally Posted by apdst View Post
    So, CRA simply existed to stop the mean ol' racists from denying loans to black folks?
    The Community Reinvestment Act of 1977 seeks to address discrimination in loans made to individuals and businesses from low and moderate-income neighborhoods.[7] The Act mandates that all banking institutions that receive FDIC insurance be evaluated by Federal banking agencies to determine if the bank offers credit (in a manner consistent with safe and sound operation as per Section 802(b) and Section 804(1)) in all communities in which they are chartered to do business.[3] The law does not list specific criteria for evaluating the performance of financial institutions. Rather, it directs that the evaluation process should accommodate the situation and context of each individual institution. Federal regulations dictate agency conduct in evaluating a bank's compliance in five performance areas, comprising twelve assessment factors. This examination culminates in a rating and a written report that becomes part of the supervisory record for that bank.[8]

    The law, however, emphasizes that an institution's CRA activities should be undertaken in a safe and sound manner, and does not require institutions to make high-risk loans that may bring losses to the institution.[3][4] An institution's CRA compliance record is taken into account by the banking regulatory agencies when the institution seeks to expand through merger, acquisition or branching. The law does not mandate any other penalties for non-compliance with the CRA.[6][
    9]..............................................
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Re: 3M chief warns Obama over business regulation

    From your Link, sir:

    The Community Reinvestment Act of 1977 seeks to address discrimination in loans made to individuals and businesses from low and moderate-income neighborhoods
    it's not hard to read between the lines, bro.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  4. #74
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    Re: 3M chief warns Obama over business regulation

    Quote Originally Posted by liblady View Post
    lol.....ok. (i should have known, jesus can spell)
    I love it when someone has the audacity to mention another poster's spelling. Ever heard of the saying "People in glass houses shouldn't throw stones?"

    Quote Originally Posted by liblady
    what cra did, and continues to do, is make it illegal to discrimate against borrowers based on race or income level. (redlining)

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: 3M chief warns Obama over business regulation

    What the hell is this guy talking about? The regulatory environment remains minimal - at best the Obama administration has restored a bare-bones framework of common-sense measures to prevent another total collapse of the economy.

    In 2009, George Buckley earned a total compensation of $13,992,628, which included a base salary of $1,720,000, a cash bonus of $3,859,112, stocks granted worth $4,333,655, options granted of $3,757,572, and other compensation of $322,289.
    George W. Buckley - Wikipedia, the free encyclopedia

    Gee, sure doesn't sound like all this "regulation" is hurting his paycheck. So who exactly is he talking about? Or is he infuriated that his paycheck isn't even bigger while the rest of America struggles?
    Last edited by Troubadour; 03-06-11 at 06:56 PM.

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    Re: 3M chief warns Obama over business regulation

    Quote Originally Posted by Troubadour View Post
    What the hell is this guy talking about?
    Ever signed the front of a paycheck in this country?

    ....well neither has The Kenyan Tyrant........which is why you both dont have a clue as to what the hell this guy is talking about.
    .
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    Re: 3M chief warns Obama over business regulation

    Quote Originally Posted by Badmutha View Post
    Ever signed the front of a paycheck in this country?
    No, and neither have the vast majority of Americans. I guess you think we're just supposed to be silent, grateful serfs and accept whatever our masters graciously give back to us out of the work that makes them rich.

    Quote Originally Posted by Badmutha View Post
    ....well neither has The Kenyan Tyrant....
    Okay, time for the guys with white coats and butterfly nets to make an entrance...

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    Re: 3M chief warns Obama over business regulation

    Quote Originally Posted by Troubadour View Post
    No, and neither have the vast majority of Americans. I guess you think we're just supposed to be silent, grateful serfs and accept whatever our masters graciously give back to us out of the work that makes them rich.



    Okay, time for the guys with white coats and butterfly nets to make an entrance...
    No, but it would make alotta sense to realize that without businesses, both big and small, no one would have a job. Where would we be, then?

    What are we supposed to do, wait for the government to give us a job? Make us rich?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: 3M chief warns Obama over business regulation

    And without those people who work for the businesses, they wouldn't exist.
    “The more you know, the harder it is to take decisive action. Once you become informed, you start seeing complexities and shades of gray. You realize that nothing is as clear and simple as it first appears. Ultimately, knowledge is paralyzing.” - Bill Watterson
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    Re: 3M chief warns Obama over business regulation

    Quote Originally Posted by apdst View Post
    What are we supposed to do, wait for the government to give us a job? Make us rich?
    This material wealth thing, I wonder how long it's going to work out.

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