It’s not that complicated. We’re in a depression, and slowly inexoribly, most of the people of this country will be without work, and without money.

Somehow, the plutocracy still believes that there is more to take from people, and that by manipulation they can keep doing the same things that got us here.

They believe that they own the taxpayer, by owning our politicians, maybe they do. 

But without real reform, credit is dead. Without credit, we have no consumer economy anymore.

It may well be that payday loans will have more clearly defined guidelines that alow more forms of theft. But their forgetting that you have to have a payday, to get a payday loan.

Most large banks, ofer discrete payday loans, they call them cash advances, which you get if you have direct deposit. So you only have to go to a check cashing place if you don’t have a bank account.

Millions no longer have bank accounts, they do not want them. If you don’t understand why this is, and the banks don’t, then you don’t understand the economic reality that we live in. 

The next time the stock market crashes, there won’t be any stimulus, only collapse and chaos for all, you may need to be armed just to buy food. 

That is if the trucking system doesn’t go belly up, then there may not be much food to buy.

FiftyGigs - perhaps what kept the loan sharks at bay, risk, will keep the sellers of toxic waste, subprime paper etc., at bay in that with the ‘reform,’ the sellers are being required to keep some of the toxic waste on their own books.  In other words, they can’t dump the whole load on some poor unsuspecting patsy - remember the ‘waste’ got triple A rated.

Ah, red meat for the naysayers.

A couple of observations for those who care not to be
sheep. (And yes, I’m talking to the naysayers.)

First, you too are being targeted for propaganda.
Scroll up. Headline: Bank Shares Zoom. Photo:
Jubilant people. Except the people aren’t bankers,
and their jubilation isn’t about shares.

How easily you are manipulated!

Second, about the storyline. You DO realize it is
being written by the same financial geniuses in the
media WHO MISSED THE COLLAPSE, right?

How easily you forgive failure and incompetence!

Third, there is a simplistic presumption that
regulation is good because regulation is
constricting. It stops bad behavior and “reins in”
businesses.

Ain’t always true, friends.

Where I live, there was once a time when you could
drive for miles and never see one single payday
loanshark store. Why? Because in the ABSENCE of
regulations defining acceptable business practice,
the payday loansharks considered the business
environment too risky.

Repeat: they stayed away because of the LACK of
regulation.

Only AFTER the regulations were in place defining
acceptable practices was it safe for the loansharks,
and they popped up like mushrooms after a rain.

The fact that bank shares rose following reform is
not necessarily proof that the reform is weak. It may
very well mean that illegal and legal practices are
better defined, and investors realize where healthy
and good opportunity exists.

Business decline is not a reasonable objective in any
sense, and the purpose of regulation is not to create
decline.

If you’re truly enlightened, naysayers, you’ll
realize it will be very difficult to find the truth
of what happened within the simplistic media culture
of government-bashing-as-proof-of-rightness that
exists today.

Be smart in fact, not just in rhetoric.

Regulation? Is that what they are calling it? Sure, just like the Federal Reserve and FDIC “protect” depositors. What they protect, is the ability for banks and financial institutions to operate fraudulently. In fact, the government has now legalized accounting fraud:

It is the first anniversary since April 2nd when FASB 157 was suspended and with it the suspension of ‘mark-to market’ accounting. The US congress held a gun to the head of the Financial Accounting Standards Board a year ago. Congress left FASB no choice but to change their guidelines under the perception that it was a deferral allowing time for the banks to adjust the toxic and devalued assets on their books. Where are we a year later with Mark-to Market still ‘on hold’ and Mark-to-Myth endorsed by the Federal Reserve Bank examiners? Frankly, the ‘happy face’ media doesn’t want to talk about it, so I will. As an investor, unlike politicians and the media, I must face reality or I will pay the ugly consequences.

http://home.comcast.net/~lcmgroupe/2010/Article-Extend_Pretend-Accounting_Driven.htm

http://home.comcast.net/~lcmgroupe/2010/Article-Extend_Pretend-Manufacturing_a_Minsky_Melt-Up.htm

Humanity enslaved, planet befouled, fools defend monsters, stocks soar.

hello. it was funny to me i already knew this was
another stock photograph of a World Cup reaction, and
not a reaction to banking news (by the money changers
as was implied. banks will now act as a conduit for
taxes. taxes come from the citizens. the banks will
have to pay a ‘tax’, so they will pass it along to
their customers as fees. the government illegally profited from TARP already, and next it will have the
tax payer bailing out unions. this will create many
new jobs at the Federal Reserve, so they can pad the
unemployment numbers. we are so bad at being
Americans; the progressives still have so much to
reform: and so little time. a tax to reform those
illegals is needed, and a tax on the air we breathe.
move on reformers, spend a little tax on me.

Reform without reform, of course they are happy. Business as usual.