pkarnig’s posthaven

But financial burdens for big banks are not all that’s at stake here. Perhaps even more significant are the social costs associated with mortgage paperwork improprieties and any attempt to brush them under the rug.

“If the public gains the impression that the government is providing concessions to large banks in order to ensure the smooth processing of foreclosures,” the report contends, “the people’s fundamental faith in due process could suffer.”

And along with it, their faith in the government.

This is really what this issue is all about: Is our government in place to support the people or big business. It certainly looks to me like the latter. What do you think?

WASHINGTON — House Republicans on Thursday will issue a legislative blueprint called “A Pledge to America” that they hope will catapult them to a majority in the November elections. Its goals include a permanent extension of all the Bush-era tax cuts, repeal of the newly enacted health care law, a cap on discretionary federal spending and an end to government control of the mortgage giants Fannie Mae and Freddie Mac.

I AM AMAZED.... how is it possible that any americans believe that:

1. affordable healthcare for all
2. asking millionaires to help the less fortunate
3. regulation of predatory banking companies

IS NOT A GREAT THING.

HOW IS THAT POSSIBLE?
DON'T YOU WANT AFFORDABLE HEALTHCARE?
DON'T YOU WANT ENOUGH MONEY TO SUPPORT YOUR FAMILIES?
DON'T YOU WANT BANKS TO BE PREVENTED FROM CHARGING OUTRAGEOUS FEES AND FOR BEING TOO BIG TO FAIL?

I HAVE TO BELIEVE THAT EVERYONE WOULD WANT THESE OUTCOMES

FRIENDS, PLEASE TELL ME IF YOU UNDERSTAND THIS? HOW CAN ANYONE VOTE AGAINST THESE GOALS?

For all of Goldman Sachs' professed support for an overhaul of financial regulations, the megabank hasn't exactly withdrawn its army of lobbyists. Far from wearing out its welcome, the firm is busier than ever safeguarding its interests while a Wall Street crackdown takes shape in Washington.

Goldman has an unrivaled and influential network of lobbyists, including about 50 people with close ties to Congress and past White Houses, a Huffington Post Investigative Fund analysis of lobbying and campaign records shows. The lobbyists are challenging reforms aimed at Goldman's profit centers, including the trading of complex contracts known as derivatives. The Senate this week will continue debating proposed regulations of derivatives, which are blamed for fueling the financial crisis

The fact that banks have been allowed to trade derivates as a means of hedging their bets on investments like risky mortgage backed securities really points out that the combined lack of regulatory control by our government and the lack of transparency in financial reporting creates an environment where our big financial institutions, like Goldman Sachs, can manipulate markets and reap huge profits at the cost of financial stability. We need more regulation now before we find ourselves in another harmful bubble market.