Author Topic: Reversal of Obama Financial Rules  (Read 1647 times)

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Offline airboy

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Reversal of Obama Financial Rules
« on: December 31, 2020, 09:33:15 AM »
The Obama Administration used Federal Banking rules to target industries they disliked.  Banks were downgraded on normal oversight if they lent to what the Obama regulators called "financial risks."  This included gun makers, ammunition manufacturers, oil and gas industry, and payday lenders.  This was not due to normal financial risk (lack of assets, cash flow, etc...) but due to targeting industries the Obama people disliked.

After the Obama Administration left office, various "green groups" targeted banks attempting with some success to get them to not lend money to any extraction industry - especially oil and gas.

One of the last regulatory actions of the Trump Administration was to make political targeting of disfavored industries illegal in terms of banking regulation.  Banks can deny service due to lack of financial viability, but must use quantitative impartial risk-based standards established by the bank in advance.

Some Democrats criticized the measure.  (Full story in the WSJ, B10, Nov 21-22).

Offline Lotti Fuehrscheim

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Re: Reversal of Obama Financial Rules
« Reply #1 on: December 31, 2020, 09:48:00 AM »
Trumps attitude to the environment was abysmal, so this move comes at no surprise.

Of course the right to destroy is a fundamental freedom to some.

Offline Sir Slash

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Re: Reversal of Obama Financial Rules
« Reply #2 on: December 31, 2020, 09:58:03 AM »
Anything the opposite of what Obama did can only be a good thing. For America I mean.  O0
"Take a look at that". Sgt. Wilkerson-- CMBN. His last words after spotting a German tank on the other side of a hedgerow.

Offline airboy

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Re: Reversal of Obama Financial Rules
« Reply #3 on: December 31, 2020, 10:03:48 AM »
Trumps attitude to the environment was abysmal, so this move comes at no surprise.

Of course the right to destroy is a fundamental freedom to some.

Lotti - the USA is the world's leading oil and gas producer.  If the Dutch don't want to use any oil or gas anymore - go right ahead.  Or perhaps you would prefer getting vital products from Russia or one party States such as Venezuela or Saudi Arabia?

If you are true to your "green religion" you probably should live in a tiny, tiny place; keep your heat no higher than 50 Fahrenheit, never use air conditioning, and never eat meat.  If you don't do those things, you are probably not following the tenants of your religion that you want to force on others.

Offline Lotti Fuehrscheim

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Re: Reversal of Obama Financial Rules
« Reply #4 on: December 31, 2020, 10:19:37 AM »
Trumps attitude to the environment was abysmal, so this move comes at no surprise.

Of course the right to destroy is a fundamental freedom to some.

Lotti - the USA is the world's leading oil and gas producer.  If the Dutch don't want to use any oil or gas anymore - go right ahead.  Or perhaps you would prefer getting vital products from Russia or one party States such as Venezuela or Saudi Arabia?

Russia has been a reliable provider of resources throughout history. I have no problem with buying their products cheaply.

Offline demjansk1942

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Re: Reversal of Obama Financial Rules
« Reply #5 on: December 31, 2020, 02:47:37 PM »
Good call airboy, just like Al Gore and his preaching, meanwhile he flies on private jets and has a humongous house.  Furthermore, if the seas are going to inundate islands, how come Obama bought a nice green house on an island, unbelievable. Do as I say not as I do

Offline bobarossa

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Re: Reversal of Obama Financial Rules
« Reply #6 on: December 31, 2020, 03:16:37 PM »
Why isn't this thread in Religion and Politics?

Offline airboy

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Re: Reversal of Obama Financial Rules
« Reply #7 on: December 31, 2020, 03:24:56 PM »
Why isn't this thread in Religion and Politics?

I thought this was an interesting regulation FYI.  Weird how one person took it.  I thought this was as political as my WW1 history post - which got no responses because it was just interesting.
« Last Edit: December 31, 2020, 03:27:55 PM by airboy »

Offline jejo68

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Re: Reversal of Obama Financial Rules
« Reply #8 on: January 06, 2021, 04:00:20 PM »
Good call airboy, just like Al Gore and his preaching, meanwhile he flies on private jets and has a humongous house.  Furthermore, if the seas are going to inundate islands, how come Obama bought a nice green house on an island, unbelievable. Do as I say not as I do

Thats a damn lie. Al Gore doesn't have one house. He got five

Offline Sir Slash

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Re: Reversal of Obama Financial Rules
« Reply #9 on: January 06, 2021, 08:37:34 PM »
 ;D
"Take a look at that". Sgt. Wilkerson-- CMBN. His last words after spotting a German tank on the other side of a hedgerow.

Offline Staggerwing

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Re: Reversal of Obama Financial Rules
« Reply #10 on: January 06, 2021, 09:17:09 PM »
All righty then...
Vituđ ér enn - eđa hvat?  -Voluspa

Nothing really rocks and nothing really rolls and nothing's ever worth the cost...

"Don't you look at me that way..." -the Abyss
 
'When searching for a meaningful embrace, sometimes my self respect took second place' -Iggy Pop, Cry for Love

... this will go down on your permanent record... -the Violent Femmes, 'Kiss Off'-

"I'm not just anyone, I'm not just anyone-
I got my time machine, got my 'electronic dream!"
-Sonic Reducer, -Dead Boys

Offline demjansk1942

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Re: Reversal of Obama Financial Rules
« Reply #11 on: January 09, 2021, 06:00:15 AM »
Good call airboy, just like Al Gore and his preaching, meanwhile he flies on private jets and has a humongous house.  Furthermore, if the seas are going to inundate islands, how come Obama bought a nice green house on an island, unbelievable. Do as I say not as I do

Thats a damn lie. Al Gore doesn't have one house. He got five
good one Jerome I forgot about the other houses and suv’s

Offline rustyshackleford

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Re: Reversal of Obama Financial Rules
« Reply #12 on: January 29, 2021, 06:53:46 PM »
Good call airboy, just like Al Gore and his preaching, meanwhile he flies on private jets and has a humongous house.  Furthermore, if the seas are going to inundate islands, how come Obama bought a nice green house on an island, unbelievable. Do as I say not as I do

Thats a damn lie. Al Gore doesn't have one house. He got five

Reminds me of Snopes debunking the claim that John Kerry owns 4 mansions: "Mostly false. John Kerry's WIFE owns 4 mansions" ;D

I shit you not: https://www.snopes.com/fact-check/john-kerry-property/

Conclusion?

"It is true that Kerry has made use of multiple homes, vehicles, a private jet and a yacht over the course of years, though much of the property belongs to his wife. It does appear, however, that the meme exaggerated the number of homes and yachts they have owned."

 ;D
« Last Edit: January 29, 2021, 06:55:28 PM by rustyshackleford »