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Post by vegasdinar Thu Mar 01, 2012 1:25 pm

John Stossel is having an episode tonight focused on "Evil Bankers" on Fox Business Channel at 9 ET. This may be of interest to some of you as we have heard about the Bad Guys getting arrested and all that. Here is the written preview of the episode with currency discussion toward the end:

Evil Bankers (Tonight at 9PM on FBN)
Posted by John Stossel | March 01, 2012

That's the title of tonight's show.
Ok, most bankers aren't evil. Except the ones who who took on too much risk, assuming housing prices would only rise -- then lost billions of dollars and were saved by a taxpayer-funded bailout. They are evil.
Maybe that's unfair. They just chased opportunity. I mostly blame the politicians who grabbed our money and bailed them out. Had they not done that, then the bankers would have just lost their own (and their reckless investors') money, not taxpayers' money.
Most anger toward bankers now centers on the private equity guys who reorganized companies, fired people, and made a lot of money. This political ad, run by Newt Gingrich's supporters, portrays Bain Capital as evil.
The ad is ridiculous.
Fox Business reporter Sandra Smith and investment banker Paul Levy will explain how Mitt Romney's former private equity firm, and others, are part of the creative destruction that is needed for capitalism to work.
They are not "vulture capitalists, " as Rick Perry called them.
John Taylor, the President and CEO of the National Community Reinvestment Coalition, says that Fannie Mae and Freddie Mac do more good than harm. I will vehemently disagree.
Legalize insider trading and abolish the Security and Exchange Commission! So argues Robert Murphy from the Mises Institute. He says that insider information would lead to more accurate stock prices, and that the SEC does more harm than good.
George Mason economist Russ Roberts is disgusted with crony capitalism, but Ben Barber from the progressive think-thank Demos says we can't completely cut government out of business.
And finally, would you like to print your own money, just like our government does? I printed my own Stossel dollars.

It's illegal to use that as currency, but former Federal Reserve economist David Barker argues that it should be legal--that competition in currencies would be a good thing.

Read more: http://www.foxbusiness.com/on-air/stossel/blog/2012/03/01/evil-bankers-tonight-9pm-fbn#ixzz1ntHwyYjR

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Post by Kevind53 Thu Mar 01, 2012 1:31 pm

Ummm yea, OK sure ... sounds like a defense of wall street corruption, or am I reading it wrong .... Legalize insider trading? HUH? :shock:

Trust but Verify --- R Reagan Suspect

"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18

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Post by aksafeone Thu Mar 01, 2012 3:45 pm

Nope, that is what I got out of it myself. Time to put them all in chains (jails now days for them are country clubs) and send the political cronies to visit Davy Jones (not the Monkeys singer either). This bunch we have around the so called "RATS" are nothing but PIRATES ( :pirat:) and it is high time to send them packing.
Come on RV, or are you afraid to? Fear no evil! Since we are not evil there should be no fear!!!
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Post by prosetian Thu Mar 01, 2012 4:23 pm

There are plenty of "evil bankers" how about all the ones that got that bailout money, what did they do with that money? They supposedly had a bunch of bad loans and the taxpayers bailed them out. Now, you would think that the money was to cover those bad loans so the banks wouldn't lose money (this is without addressing whether banks actually loan any money), if it was, then it only makes sense that those loans are now PAID, but those banks are still trying to collect those loans. Looks like a bit of double dipping to me.

And then there are the "evil bankers" who foreclose on peoples homes without having the promissory note the people signed. A mortgage document is NOT evidence that you owe the holder of that document anything. It is evidence that you have agreed to put up your home as security for the person who lent you money and the evidence of that debt is the note. There have been a bunch of court case in the last few years where banks and mortgage companies have had foreclosure attempts stopped because they did not have the note.

Kind of makes you wonder if the bank doesn't have the note, where is it and what is it being used for?

Anybody ever wonder why most banks immediately sell your loan to another bank?

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