tag:blogger.com,1999:blog-2335748440449035592.post9017832130630898481..comments2008-05-26T02:08:31.084-04:00TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2335748440449035592.post-61412723077765253872008-05-26T02:08:00.000-04:002008-05-26T02:08:00.000-04:00**Federal Reserve Bank is not there to protect us.**<BR/><BR/>Why is this guy expecting the Fed to be a nanny wiping peoples asses nationwide? It's not their job. And it shouldnt be.shaxmatisthttp://www.blogger.com/profile/07220757563758396222noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-63727202446180831942008-05-26T01:29:00.000-04:002008-05-26T01:29:00.000-04:00Old news, but this had some "funny" quotes<BR/><BR/>http://www.newsweek.com/id/138503/page/3<BR/><BR/><BR/>National and state regulators, meanwhile, paid almost no attention despite pleas for help from the local officials. It was way back in 2000 that Rokakis led a local delegation to the Federal Reserve Bank of Cleveland, asking for help. After much pleading, the Fed scheduled a daylong conference in March 2001 titled "Predatory Lending in Housing." "We asked them to step up and take action," the county treasurer recalls in his office in downtown Cleveland. "But here's what I learned about the Fed. They do wonderful lunches. But the Federal Reserve Bank is not there to protect us. It's there to protect the banks."<BR/><BR/>"it was clear this was the Wild West, and there's no sheriff in town. If you're a lender, there's nobody who can stop you. The only difference is that in the old days, people robbed the banks. Now the banks were robbing the people."One step closer to Canadahttp://www.blogger.com/profile/12039738162667681225noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-44748621724856410322008-05-24T21:30:00.000-04:002008-05-24T21:30:00.000-04:00Also keep in mind that our parents feathered their own nests by allowing 'double dipping' of military benefits and retirement programs, not to mention not funding their own social security and medicare programs, leaving it for future generations to reimburse. This particularly obscene when both programs have income caps, where as kids starting today are truly struggling to make ends meet. They also are reaping the benefits of homeownership, funded in part by our present problems. I really don't see my children affording homes in the future.<BR/><BR/>Thx jegan ;-)jeganhttp://www.blogger.com/profile/05850061548373752817noreply@blogger.com