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. #351
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    Re: Elizabeth Warren vs. Hillary Clinton

    This is what I found from one of your links that addresses CFPB: Similarly, the CFPB created a sensible, limited exemption from the “qualified mortgage,” or “QM,” rule for portfolio mortgages by community banks and credit unions with less than $2 billion in assets that make fewer than 500 first-lien mortgages a year. If a community bank assumes all of the risk of default, then there will be strong incentive to decide correctly if the borrower has the ability to repay without a debt-to-income requirement.

    The Dodd-Frank Act was the most significant set of financial reforms since the New Deal. Many of the provisions are aimed at large, complex, systemically important financial institutions, and will not affect community banks at all. Other provisions will affect community banks. A GAO study last fall concluded that some provisions will help community banks, such as the supervision by the CFPB of certain nonbank lenders that competed unfairly with responsible community banks in the past, and changes to the calculation of deposit insurance premiums. Other provisions will inevitably result in some compliance costs for community banks, the GAO found, but how much will depend on the implementing regulations. Regulators should certainly make sensible exceptions, like the CFPB’s exception from the QM rule for some portfolio mortgages by community banks. The regulators should also recognize, however, that a patchwork of different rules for different lenders will inevitably be confusing to consumers, and is contrary to the intent that some rules should apply to all lenders.

    Other provisions should apply equally to community banks. Community bank lending may be more “relationship lending” than lending by bigger banks, but no one walks into a community bank with a legal pad or a laptop and says “I need a loan. Do you want to be the party of the first part, or do you want me to be?” Community bank lending may be more tailored to the borrower, but no one’s lending is that tailored. All lenders use standard forms, and no lender’s standard forms should include predatory, equity-stripping provisions like what we saw in the last decade. Community banks were generally not guilty of some of the worst abuses of the last decade, and community banks remain more constrained by reputational concerns than are the biggest banks. But community bankers are not incapable of bad conduct. In the movie “It’s a Wonderful Life,” George Bailey was a community banker, but so was Mr. Potter.

    There is litigation pending now against a New York community bank for mortgages the banks made to homeowners with lots of equity but problem credit. The mortgages had an interest rate that adjusted to almost 10 percent. If a homeowner was late with a payment, the rate went to 18 percent and stayed at 18 percent until the homeowner got completely caught up. Since an interest rate of 18 percent almost doubled the monthly payment, many homeowners found it hard to catch up. Almost half of the 5,000 homeowners who got the mortgages are losing their home.

    The consolidation in the banking industry was not the result of onerous regulation of community banks, but of the deregulation of big banks by submissive politicians and regulators. More of the consolidation was the result of bigger banks buying smaller banks after interstate banking restrictions were relaxed than was the result of small bank failures.

    Much of the advantage community banks have had in the past is their knowledge of local laws. The largest banks have succeeded in excusing themselves from many local or state laws they find inconvenient. Legislation introduced last week would exempt mortgages even from the requirements of state land title laws.

    There are several ways Congress could help community banks compete with the biggest banks. For instance, Congress could limit ATM charges that are unrelated to the cost of transactions. Fees for using an ATM that is not your bank’s own may be $4 or $5, which is pretty stiff if you just need $40 in cash. ATM fees are unjustifiably profitable, and are a barrier for community banks in competing for customers. There’s a Bank of America cash machine just two blocks from here on Pennsylvania Avenue. Good luck with finding one for Prosperity Bank.

    Most important, Congress should end the implicit subsidy for borrowing by too-big-to-fail banks. The ICBA has joined the chorus calling for ending too-big-to-fail because of the unfair competitive advantage too-big-to-fail banks have over community banks. Congress should pay attention.

    So, I'm not seeing what you are saying about small community banks getting hurt more than big banks.

  2. #352
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by dad2three2001 View Post
    Yes, You know how to read. And why would Dems be at fault? They have ANY power in the Executive branch? HUD, F/F, FBI, SEC, etc?
    because they vote like everyone else, they are on committees even they they dont seat at it leadership position.

    they are part of government.

  3. #353
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by a351 View Post
    You'll have to explain what you're attempting to say here.
    There is nothing that isn't political about Hillary Clinton. In today's political environment, she's as populist as anyone.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

  4. #354
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by ernst barkmann View Post
    so tell me, how does clinton get good marks for his presidency, with a republican congress for the first time in 40 years for his 8 years, and reagan gets bad marks when he had a democrat house for his 8 years?
    So you don't understand

    "Clinton had a surplus, then the GOP passed a $700+ billion tax cut after his first surplus, which Clinton vetoed to get 3 more. See logic would dictate credit goes to Clinton"

    Reagan, Hmm the guy who 'starved the beast' with his tax cuts to the rich, tripled US debt, cut and ran from terrorists after funding them, and had the most corrupt admin in 100+ years?


    AGAIN, Despite GOP passing a $700+ billion tax cut which would have wiped out the 3 following surpluses, Clinton vetoed it. To get to the situation, Clinton had a GOP Congress his LAST 6 years, his first 2 he had Dem, that's how they set the tone fort the surpluses

    Enacted the 1993 Deficit Reduction Plan without a Single Republican Vote.

    "The deficit has come down, and I give the Clinton Administration and President Clinton himself a lot of credit for that. [He] did something about it, fast. And I think we are seeing some benefits."
    — Paul Volcker, Federal Reserve Board Chairman (1979-1987), in Audacity, Fall 1994


    "Clinton’s 1993 budget cuts, which reduced projected red ink by more than $400 billion over five years, sparked a major drop in interest rates that helped boost investment in all the equipment and systems that brought forth the New Age economy of technological innovation and rising productivity."
    — Business Week, May 19, 1997

    Yes, Dems the opposing party DID work with Reagan, to bad the opposing party will NOT work with Obama! The CONservatives/GOP has become SOOOOOO extreme the past 20 years. It's pathetic people can't see it!

  5. #355
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by ernst barkmann View Post
    because they vote like everyone else, they are on committees even they they dont seat at it leadership position.

    they are part of government.
    Yeah, Let Nancy and the Dems note that AFTER the GOP had 40+ votes to repeal Obamacares. LOTS of power in the House for the minority/ *shaking head*

  6. #356
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by dad2three2001 View Post
    Yeah, Let Nancy and the Dems note that AFTER the GOP had 40+ votes to repeal Obamacares. LOTS of power in the House for the minority/ *shaking head*
    you see, you cant stop showing your partisanship..


    the republicans are destroying america

    the democrats are saving america......now dont you think this a somewhat stupid?

  7. #357
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by rabbitcaebannog View Post
    This is what I found from one of your links that addresses CFPB: Similarly, the CFPB created a sensible, limited exemption from the “qualified mortgage,” or “QM,” rule for portfolio mortgages by community banks and credit unions with less than $2 billion in assets that make fewer than 500 first-lien mortgages a year. If a community bank assumes all of the risk of default, then there will be strong incentive to decide correctly if the borrower has the ability to repay without a debt-to-income requirement.

    The Dodd-Frank Act was the most significant set of financial reforms since the New Deal. Many of the provisions are aimed at large, complex, systemically important financial institutions, and will not affect community banks at all. Other provisions will affect community banks. A GAO study last fall concluded that some provisions will help community banks, such as the supervision by the CFPB of certain nonbank lenders that competed unfairly with responsible community banks in the past, and changes to the calculation of deposit insurance premiums. Other provisions will inevitably result in some compliance costs for community banks, the GAO found, but how much will depend on the implementing regulations. Regulators should certainly make sensible exceptions, like the CFPB’s exception from the QM rule for some portfolio mortgages by community banks. The regulators should also recognize, however, that a patchwork of different rules for different lenders will inevitably be confusing to consumers, and is contrary to the intent that some rules should apply to all lenders.

    Other provisions should apply equally to community banks. Community bank lending may be more “relationship lending” than lending by bigger banks, but no one walks into a community bank with a legal pad or a laptop and says “I need a loan. Do you want to be the party of the first part, or do you want me to be?” Community bank lending may be more tailored to the borrower, but no one’s lending is that tailored. All lenders use standard forms, and no lender’s standard forms should include predatory, equity-stripping provisions like what we saw in the last decade. Community banks were generally not guilty of some of the worst abuses of the last decade, and community banks remain more constrained by reputational concerns than are the biggest banks. But community bankers are not incapable of bad conduct. In the movie “It’s a Wonderful Life,” George Bailey was a community banker, but so was Mr. Potter.

    There is litigation pending now against a New York community bank for mortgages the banks made to homeowners with lots of equity but problem credit. The mortgages had an interest rate that adjusted to almost 10 percent. If a homeowner was late with a payment, the rate went to 18 percent and stayed at 18 percent until the homeowner got completely caught up. Since an interest rate of 18 percent almost doubled the monthly payment, many homeowners found it hard to catch up. Almost half of the 5,000 homeowners who got the mortgages are losing their home.

    The consolidation in the banking industry was not the result of onerous regulation of community banks, but of the deregulation of big banks by submissive politicians and regulators. More of the consolidation was the result of bigger banks buying smaller banks after interstate banking restrictions were relaxed than was the result of small bank failures.

    Much of the advantage community banks have had in the past is their knowledge of local laws. The largest banks have succeeded in excusing themselves from many local or state laws they find inconvenient. Legislation introduced last week would exempt mortgages even from the requirements of state land title laws.

    There are several ways Congress could help community banks compete with the biggest banks. For instance, Congress could limit ATM charges that are unrelated to the cost of transactions. Fees for using an ATM that is not your bank’s own may be $4 or $5, which is pretty stiff if you just need $40 in cash. ATM fees are unjustifiably profitable, and are a barrier for community banks in competing for customers. There’s a Bank of America cash machine just two blocks from here on Pennsylvania Avenue. Good luck with finding one for Prosperity Bank.

    Most important, Congress should end the implicit subsidy for borrowing by too-big-to-fail banks. The ICBA has joined the chorus calling for ending too-big-to-fail because of the unfair competitive advantage too-big-to-fail banks have over community banks. Congress should pay attention.

    So, I'm not seeing what you are saying about small community banks getting hurt more than big banks.
    Thank you for taking the time to read the links. But I have no idea where that information came from. Which link, and is it all from a link?

    I know all about QM, as I've posted about it in this thread a lot. QM earned me a very expensive trip to Jamaica last month with my husband, paid for by the bonus I earned for some large engagements with banks preparing for QM/ATR on January 10, and also for some work with software platforms in support of QM/ATR.

    I've posted many times why the small banks are under strain. There are many regulations and very expensive costs being passed on to the banks, and they need to add staff. It's not just QM but many regulations, some of which are in place, many others coming.

    The big banks caused problems. The little banks are paying for the problems they didn't cause. It's a very complicated thing and I've merely posted my opinion. I can't convince others to agree with me nor do I want to try.

    Not sure what that ATM stuff in the post was about. Most community banks issue cards to their customers. You live in MA. I can assure you there isn't a community bank in MA that doesn't issue cards to their account owners, and banks have to pay a very large fee to be in the ATM business, both as card issuers and ATM owners. ATM services cost banks money - and they pass the cost on to you.

    Big banks will prevail, small banks will be hurt, and consumers will have to bank with the big banks if things go the direction that I see them going in. That's why I don't hold Elizabeth Warren in any high esteem. Time will tell if I'm right - and I am hardly alone in the way I see the damage her ideas will do.

  8. #358
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    Re: Elizabeth Warren vs. Hillary Clinton

    Moderator's Warning:
    Elizabeth Warren vs. Hillary Clinton[W:336]ernst barkmann and dad2three2001 are thread banned. Do not bring forward and quote off-topic posts.
    I don't attack my constituents. Bob is my constituent now.
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  9. #359
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by tres borrachos View Post
    Thank you for taking the time to read the links. But I have no idea where that information came from. Which link, and is it all from a link?

    I know all about QM, as I've posted about it in this thread a lot. QM earned me a very expensive trip to Jamaica last month with my husband, paid for by the bonus I earned for some large engagements with banks preparing for QM/ATR on January 10, and also for some work with software platforms in support of QM/ATR.

    I've posted many times why the small banks are under strain. There are many regulations and very expensive costs being passed on to the banks, and they need to add staff. It's not just QM but many regulations, some of which are in place, many others coming.

    The big banks caused problems. The little banks are paying for the problems they didn't cause. It's a very complicated thing and I've merely posted my opinion. I can't convince others to agree with me nor do I want to try.

    Not sure what that ATM stuff in the post was about. Most community banks issue cards to their customers. You live in MA. I can assure you there isn't a community bank in MA that doesn't issue cards to their account owners, and banks have to pay a very large fee to be in the ATM business, both as card issuers and ATM owners. ATM services cost banks money - and they pass the cost on to you.

    Big banks will prevail, small banks will be hurt, and consumers will have to bank with the big banks if things go the direction that I see them going in. That's why I don't hold Elizabeth Warren in any high esteem. Time will tell if I'm right - and I am hardly alone in the way I see the damage her ideas will do.
    It was from your link: Regulatory Burdens: The Impact of Dodd-Frank on Community Banking | Center for American Progress

  10. #360
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    Re: Elizabeth Warren vs. Hillary Clinton

    Quote Originally Posted by Beaudreaux View Post
    Neither if John Huntsman or someone similar were to be the GOP nominee. If not, then Hillary. I could never vote for Warren. Never.
    I like Huntsman. But today in the GOP he is a Democrat.

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