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Huffington Post: Why are bankers still being treated as beltway royalty?

May 1, 2009

Above, watch a glimpse into the Mortgage Bankers Association annual meeting as reported by the American News Project.  As Arianna Huffington notes, there’s an “overpowering scent of self-congratulations” in the air.  Why?  Because the MBA expected the judicial loan modification amendment to fail.  And indeed, they were correct.

At AFFIL we share in Huffington’s outrage over the banks’ continued clout in Washington.  “Just this week,” she writes, “the bankers and their lobbyists — who you might have reasonably thought would be the political equivalent of lepers in the halls of power these days — have kneecapped substantive bankruptcy reform in the Senate.”

Next week, the battle will turn to credit cards.  Reform has been passed by the House of Representatives, but still must get through the Senate, where as the New York Times puts it, the “industry has more clout.”

A crucial difference between credit cards and the cramdown issue, however, is that the Obama Administration is weighing in on credit cards.  The Administration was eerily silent as the judicial loan modification issue made its way through Congress, despite candidate Obama’s support of the idea.

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2 Comments
  1. Cris Currie permalink
    February 27, 2010 5:06 pm

    Bankers rank below that of sexual predators in this country and should be treated as such. We have maps for those who rape innocent women and children. Why not have one for bankers as well??? Include their photos and names so that we, the public, can SHUN THEM just like the Amish use to do. So when we’re in such a place as a restaurant we can loudly say their name and ask to be moved from their presence, like people use to do with lepers long ago. Isolate them. Turn your “Open” sign to “closed” when they approach your business or store. And if each one of the millions of us would each contribute a $1.00 we could erect a BILLBOARD about bankers outside the largest city in our state, someplace like Chicago, where hundreds of thousands of cars go by each day. And when in CHURCH with the SOCIOPATHS get up and leave the pew until they stop mouthing the words of the Bible and practice what is being preached to them. Rip up your CREDIT CARDS or keep the balances really low. It’s time for the “GEORGE BAILEY’S” to step forward, because we’ll give our banking business to them instead. It time to get rid of the “MR. POTTERS” in our towns and cities and treat them like the plague that they are. Then demand that CONGRESS get out of the back pocket of the banks or get voted out of office when election day comes around. I’m tired of the banker’s smug and arrogant ways, their NARCISSTIC and POMPOUS stance. Bankers are the SERIAL KILLERS of the families that they have ruined while they sit on all their wealth. Ted Bundy is a better man than any banker is. As it is I already have had a hard time not wanting to spit on them as they walk by. But I do refrain from this. I’d rather take some sort of legal and social action against them instead, like standing outside one of their children’s debutante balls and boo and hiss at them. Those expensive gowns that their daughters do wear are bought with taxpayer’s monies, while the taxpayer’s children just hope and pray that they have food and shelter in the coming days. Saddham Hussein milked and exploited his people, just like bankers do these days. So let’s just quietly give them, the bankers, the business and make life as miserable for them as we can. They can’t stay in hiding forever, each has to pump gas just like the rest of us. Tell them what you think of them, loudly and clearly when there.

  2. Cris Currie permalink
    February 28, 2010 12:26 pm

    I’ve had some time to reflect upon what I’ve said above,as Cris Currie, once my anger had subsided abit. None of the above recommendations that I had given have ever been done by me in the past. Nor do I wish to do them in the future someday.It would just go against my Christain upbringing if I were to do that to them at any time. And so I think how mad I must have been to have vented as I did before.
    My contention has always been that each and every person has some good within them for me to take note of no matter how badly they may act in other ways. And I also say that because there are some bankers who have not acted as other bankers have. These good bankers have kept their integrity intact while being truly involved and caring about the communities that they are a part of. They don’t engage in “PREDATORIAL LENDING” or the giving of credit cards to naive college students as the bad ones have done.
    So now that I am calmer and reason once again prevails I’m going to take some action or do something which eradicates those harmful financial bankers from my own life. Whether it is to take my business somewhere else or trying something new and innovative, this
    ‘something’ must be done. The bad bankers just don’t get it and probably never will.What personal sacrifices away from business have they made like that of the average citizen these days?
    They’re like the errant child who insists on doing wrong while forcing others to pay their consequential price. And they continue to operate this way, despite all one’s efforts to set them right. That’s when their parents, or society, has to cut the chord with them and send them on their way. It’s called “TOUGH LOVE”. So you, the “George Baileys” in the world, please step forward and make yourselves known. And believe me when I say that our TRUST has been severely broken. So we’ll be checking you out much more thoroughly than we have before. And at any hint of SELFISHNESS we’ll drop you like hot potatoes for someone who isn’t like this. America is a family where the individuals within need to value other family members as much as they value themselves or they get kicked out of the nest.

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