Reversal of Obama Financial Rules

airboy · December 31, 2020, 11:33:15 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).

Lotti Fuehrscheim · December 31, 2020, 11:48:00 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.

Sir Slash · December 31, 2020, 11:58:03 AM

Anything the opposite of what Obama did can only be a good thing. For America I mean. O0

airboy · December 31, 2020, 12:03:48 PM

Quote from: Lotti Fuehrscheim on December 31, 2020, 11:48:00 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.

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.

Lotti Fuehrscheim · December 31, 2020, 12:19:37 PM

Quote from: airboy on December 31, 2020, 12:03:48 PM
Quote from: Lotti Fuehrscheim on December 31, 2020, 11:48:00 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.

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.

demjansk1942 · December 31, 2020, 04:47:37 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

bobarossa · December 31, 2020, 05:16:37 PM

Why isn't this thread in Religion and Politics?

airboy · December 31, 2020, 05:24:56 PM

Quote from: bobarossa on December 31, 2020, 05:16:37 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.

jejo68 · January 06, 2021, 06:00:20 PM

Quote from: demjansk1942 on December 31, 2020, 04:47:37 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

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

Sir Slash · January 06, 2021, 10:37:34 PM

;D

Staggerwing · January 06, 2021, 11:17:09 PM

All righty then...

demjansk1942 · January 09, 2021, 08:00:15 AM

Quote from: jejo68 on January 06, 2021, 06:00:20 PM
Quote from: demjansk1942 on December 31, 2020, 04:47:37 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

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

rustyshackleford · January 29, 2021, 08:53:46 PM

Quote from: jejo68 on January 06, 2021, 06:00:20 PM
Quote from: demjansk1942 on December 31, 2020, 04:47:37 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

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