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. #171
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by rabbitcaebannog View Post
    Not really. Elizabeth Warren has stated "Basel III should be applied to large financial institutions, not small banks." She also acknowledges,“Small business can’t park their money overseas or take advantage of special accounting loopholes,” Warren said. “They can’t hire the lobbyists to get them the special hand-crafted, carefully fitted loopholes that give them great deals and nobody else.” U.S. Sen. Elizabeth Warren looking to regulations to protect small banks and businesses | masslive.com

    She is well known to be a threat to the large banking industry and not the small.
    Basel isn't part of what I'm talking about.

    How about RESPA? Reg Z? Reg E? TILA/RESPA? Reg CC? Reg G? QM/ATR? UDAAP? What's your experience with them?

    Elizabeth Warren is hurting small banks. I see you live in MA. I can give you the names of 20 community banks in your area, depending on where you are. You can go into any of them and ask to speak with the Compliance Officer, Risk Management, Senior Lender, any executive, etc. and ask them what they feel about the CFPB and Dodd-Frank regs they are implementing.

  2. #172
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by tres borrachos View Post
    The regulations that the CFPB and Dodd-Frank are putting in today aren't old regulations being re-upped.

    Do you work in the banking industry or in the financial services compliance industry? If not, you really don't have any first hand or practical experience. I do. I post about what I know, and since I make my living in this industry, it's something I know about. I don't pretend to be a mechanic which is why I would never post in those threads. I have no understanding of foreign policy, which is why I never post in the International Politics section. I practice no religion, which is why I never post in the Religion section. Banking I know.
    You work in the financial industry and claim to have first-hand knowledge of the business, yet can't even explain why bank foreclosures skyrocketed in the 80s. I find that...odd.

  3. #173
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by Cardinal View Post
    You work in the financial industry and claim to have first-hand knowledge of the business, yet can't even explain why bank foreclosures skyrocketed in the 80s. I find that...odd.
    You didn't say anything about bank foreclosures. I wasn't talking about bank foreclosures exclusively. If you're talking about the S&L issues in the 1980s, that isn't what is driving the CFPB and Dodd-Frank.

    What is an independent bank? I keep asking you, you keep ignoring it, even though you said it. Kindly answer, please.

    I have to go to a soccer game now but will be back later to check on your answer.

  4. #174
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by tres borrachos View Post
    Basel isn't part of what I'm talking about.

    How about RESPA? Reg Z? Reg E? TILA/RESPA? Reg CC? Reg G? QM/ATR? UDAAP? What's your experience with them?
    Why can't you explain your position concisely without bombarding people with a barrage of acronyms?

  5. #175
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    Re: Elizabeth Warren vs. Hillary Clinton

    Right, but she is kind of a new face. Clinton has been there forever.

    And may be there a while longer.

  6. #176
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by tres borrachos View Post
    Basel isn't part of what I'm talking about.

    How about RESPA? Reg Z? Reg E? TILA/RESPA? Reg CC? Reg G? QM/ATR? UDAAP? What's your experience with them?

    Elizabeth Warren is hurting small banks. I see you live in MA. I can give you the names of 20 community banks in your area, depending on where you are. You can go into any of them and ask to speak with the Compliance Officer, Risk Management, Senior Lender, any executive, etc. and ask them what they feel about the CFPB and Dodd-Frank regs they are implementing.
    Well then if you are specifically talking about RESPA, Reg Z and E, TILA etc......you've NEVER answered the question how that hurts small banks but I'll patiently wait.

  7. #177
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by TurtleDude View Post
    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.
    Yeah, bigger baks can cope better. So what? Fact is, big banks have pushed hard for deregulations for the last 30 years or so. Why do you think?
    No men are anywhere, and Im allowed to go in, because Im the owner of the pageant and therefore Im inspecting it, Trump said... Is everyone OK? You know, theyre standing there with no clothes. Is everybody OK? And you see these incredible looking women, and so I sort of get away with things like that.

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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by tres borrachos View Post
    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.
    And that is when de-regulation started. Under Reagan.

    Now how many banks went under from the depression reforms to the early 80s? We're talking 50 years here. Tell me, how many???
    Last edited by Middleground; 06-15-14 at 02:48 PM.
    No men are anywhere, and Im allowed to go in, because Im the owner of the pageant and therefore Im inspecting it, Trump said... Is everyone OK? You know, theyre standing there with no clothes. Is everybody OK? And you see these incredible looking women, and so I sort of get away with things like that.

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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by tres borrachos View Post
    You didn't say anything about bank foreclosures. I wasn't talking about bank foreclosures exclusively. If you're talking about the S&L issues in the 1980s, that isn't what is driving the CFPB and Dodd-Frank.
    Typo. Closures. Your own article cites the smallest number of banks being open in the last 30 years. Why is that? Why did the total number of banks drop through the basement beginning in the 80's with deregulation? You work in the industry, so pretend I'm an idiot and explain it to me simply. And if you don't feel you have to pretend, all the better.

    I think i speak for everyone when I say that I always welcome insight from someone with first-hand knowledge on a subject, even when I disagree with him. I'm always happy when Turtledude brings something informative (and concisely) about law into a thread, and I think I can count the number of things we agree on on the fingers of one hand. So that's all I'm asking for here. As it stands, your manner of bringing specifics to this discussion is vague and obscure (such as your frequent use of acronym-dumping), almost bordering on being evasive.
    Last edited by Cardinal; 06-15-14 at 02:40 PM.

  10. #180
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by Cardinal View Post
    A drop that began with deregulation in the 80's, as it would happen. It's kind of hard to swallow the idea that regulation will hurt independent banks when their free fall happened at the same exact time as deregulation.
    Except that deregulation has been a long process not restricted to the 80's. In the crash that ushered in the Great Depression, all banks closed for I believe four days. Some 4,000 or so of them never reopened. Glass-Steagall passed roughly at the end of the Great Depression imposed some necessary regulatory protections for both banks and consumers alike. Otherwise banking laws were pretty well governed by state, not federal laws.

    Then in the 1970's, in the Marquette Decision, SCOTUS ruled that banks could export interest rates into other states which ushered in the 'big bank' area as banks scrambled to set up branches in various states. This began the deregulation of state interest/usury laws. And Carter's CRA turned the focus on finding ways for low income people to buy their own homes.

    In 1980, the Depository Monetary Control Act did away with state caps on interest rates for mortgages et al, and that began the slow spiral into higher risk loans. With federal backing taking on much of the risk, banks could make more money making riskier loans at higher interest rates.

    The Alternative Mortgage Transactions Parity Act of 1982 allowed lenders to get away from fixed-rate amortization loans and go to adjustable rates, balloon payments, interest-only loans. With the option to underpay substantially for several years, borrowers were encouraged to take on debt they really couldn't easily afford.

    The Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 pretty well trashed all state barriers to interstate banking and the 'too big to fail' mega bank was able to start crowding out the little guys.

    The Gramm-Leach-Bliley Act of 1999 repealed most of Glass-Steagall that removed all previous barriers to banks, insurance companies, and investment companies collaborating to put together complicated packages for loans and bundling of loans sold as investments which culminated in the next massive crash of 2008.

    And from President Carter's administration through the present day, there has been a push, coupled with relaxed banking regulation, to make very unwise loans to the 'poor'--this wasn't much of a problem until the Clinton administration that began to aggressively pursue this and nothing was done to slow it down in the Bush Congress despite some 17 different warnings from his administration that trouble was developing. And when the defaults began occurring en masse, THAT is what caused the whole thing to crash as it did in 2008.

    The History of Bank Deregulation | eHow

    Now we have Elizabeth Warren who wants to 'streamline' banking regulations but does not oppose any of the policies that actually created the problems with loans in default. And we have Hillary Clinton who understands the banking system not at all, so far as I can tell, and probably doesn't even know how to write a check herself.
    "I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it." --Benjamin Franklin 1776

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