View Poll Results: Who would you rather have as president?

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  • Hillary Clinton

    19 32.20%
  • Elizabeth Warren

    40 67.80%
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Thread: Elizabeth Warren vs. Hillary Clinton[W:336]

  1. #131
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by Middleground View Post
    So you're saying that banking regulation hurts the little banks? In the same token regulations help the big ones?
    large banking operations often welcome complex regulation because large institutions are more likely to have the resources to cope with these challenges better than smaller entities.



  2. #132
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by tres borrachos View Post
    I don't.
    Me neither but I'd certainly prefer her over Lieyawatha



  3. #133
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by Amadeus View Post
    Elizabeth Warren is trying to protect community banks. Part of the reason community banks are shrinking is because they have to compete with the unregulated practices of mammoth banks.
    that's crap. what unregulated practices " of Mammoth banks hurt small banks. In an extremely regulated market big banks are going to have even more advantages over small local ones



  4. #134
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by Middleground View Post
    Banks were heavily regulated for about 50 years. The smaller banks did well. So why would it be different now?
    The smaller banks did well? Really?

    In the mid-1980s there were almost 18,000 community banks. Now there are less than 7000 and that number gets smaller every day. There have only been a handful of new community banks opened in the last 6 years or so.

    The regulatory climate also looks nothing today like it did 25 year ago, or even 10 years ago. Small banks are closing at an alarming rate and have been for the last few years.

    With all due respect, you should do some research on the banking industry.

  5. #135
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by TurtleDude View Post
    that's crap. what unregulated practices " of Mammoth banks hurt small banks. In an extremely regulated market big banks are going to have even more advantages over small local ones
    It's already been explained in this thread. I'll quote a previous post.

    One Ohio banker forcefully explained that his bank didn’t believe in pricing tricks, but that he had to compete with lenders who do — and who sell products that often appear to be cheaper. From his perspective, real competition in the credit market is less about who makes the best product and more about who can hide costs from the customer until it is too late.

    For more than a decade, the number of small banks has shrunk. Consolidation has thinned their ranks, and some have failed outright. The result is less diversity — fewer firms and fewer differences in the approaches used in the financial services sector.

    The bankers I have talked with are not looking to Washington to solve their problems. But they are looking for a market that allows them to compete. They are looking for a regulatory structure that doesn’t require an army of lawyers, and a level playing field that lets customers see the true cost of a product — so lenders do not need to compete against a phantom price.

  6. #136
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by TurtleDude View Post
    that's crap. what unregulated practices " of Mammoth banks hurt small banks. In an extremely regulated market big banks are going to have even more advantages over small local ones
    The "mammoth banks" are enjoying the benefits of the new regulatory environment, which is why they are getting bigger and more powerful, and the smaller ones (the community banks) are withering on the vine.

    The CFPB is going to kill off the small banks, leaving only the large and super-regional banks standing. People who think that's going to help consumers are very sadly mistaken and terribly uninformed.

    The big banks love Warren.

  7. #137
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by Amadeus View Post
    It's already been explained in this thread. I'll quote a previous post.
    that doesn't establish your point. it looks like you want more regulation and the small bankers do not


    My father was a director for several decades of a bank that now is a Fortune 500 establishment. The consolidation of banking is market driven



  8. #138
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by tres borrachos View Post
    The "mammoth banks" are enjoying the benefits of the new regulatory environment, which is why they are getting bigger and more powerful, and the smaller ones (the community banks) are withering on the vine.

    The CFPB is going to kill off the small banks, leaving only the large and super-regional banks standing. People who think that's going to help consumers are very sadly mistaken and terribly uninformed.

    The big banks love Warren.
    Lieyawatha is a whore for crony capitalism



  9. #139
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    Re: Elizabeth Warren vs. Hillary Clinton

    Number of U.S. banks drops to record low

    By/Constantine von Hoffman/MoneyWatch/December 4, 2013, 4:11 PM/
    Number of U.S. banks drops to record low

    The number of banks in the U.S. has fallen to a record low this year, with most of the closed institutions consisting of community lenders. With profits harder to come by in financial services and bankers complaining about the burdens of increased regulation, more small lenders are expected to close. This could take a toll on small businesses, which rely on these banks as their primary source of funds.

    According to the Federal Deposit Insurance Corp., the number of federally insured financial institutions fell to to 6,891 as of the end of September. That’s the lowest it has been since 1934, when federal regulators began tracking the number. In the past 30 years, more than 10,000 banks have closed because of mergers, consolidations or failures. The overwhelming majority of those closures were small banks, or those with less than $100 million in assets.

    “Small banks are the most important source of loans for small businesses,” said Rohit Arora, CEO of Biz2Credit, which matches up businesses and lenders. Research by the company shows that since the end of the recession, small banks have approved three to four times more small business loans every month than big banks have.

    Small banks make their money from what many think of as traditional banking -- the spread between the interest they pay to depositors and the interest borrowers pay for loans. However, the Federal Reserve’s monetary policy since the 2008 financial crisis of keeping interest near zero has cut that difference paper-thin.



    Here is the magic paragraph:

    Banks big and small also face higher costs to comply with regulations passed under the 2010 Dodd-Frank financial reform law. Some banks have had to quadruple the number of staff dedicated to dealing with these and other regulations, like those requiring increased security to ward off cyber-attacks. Such costs are much easier for large banks, like Citibank (C) or Bank of America (BAC), to absorb.



    Number of U.S. banks drops to record low - CBS News

  10. #140
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by TurtleDude View Post
    that doesn't establish your point. it looks like you want more regulation and the small bankers do not
    It does address my point. Smaller banks do not generally engage in the practices of larger banks (predatory lending), but have to compete with them anyway. Thus, it's not a level playing field. So they end up losing business.

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