"The Speech That Wins The Election"

[Grizalltheway]

So you must be a proponent of TBTF, monopolies, and government intervention in markets then...interesting.

Nope. Just like working for them.

Local banks and credit unions are good for some things. Low rates on mortgages isn't one of them.

It isn't so much the size of the banks per se, it's the fact that they're allowed to take depositors' money and bet it on risky investment packages. Reinstating Glass-Steagall would go a long ways towards correcting a lot of problems, IMO.

[89Hen]

Nope. Just like working for them.

Local banks and credit unions are good for some things. Low rates on mortgages isn't one of them.

Hey, I cant blame a guy for making a buck, but I figure you for more of a pro-competition and less tax payer backed and subsidized rate kind of guy...at least politically. That's the main point of the linked rant after all.

Painting big banks and the people that work for them as evil doesn't make for more competition. It's often funny that somebody who is insistant on working with a local lender doesn't realize their local lender is a correspondent lender who is selling the loan to BofA, Wells Fargo or Citi.

[AZGrizFan]

Nope. Just like working for them.

Local banks and credit unions are good for some things. Low rates on mortgages isn't one of them.

It isn't so much the size of the banks per se, it's the fact that they're allowed to take depositors' money and bet it on risky investment packages. Reinstating Glass-Steagall would go a long ways towards correcting a lot of problems, IMO.

Agreed. Reinstate Glass-Steagall and repeal Dodd-Frank.

[89Hen]

repeal Dodd-Frank.

Knew it stunk like a dead fish the moment I read it.

[AZGrizFan]

repeal Dodd-Frank.

Knew it stunk like a dead fish the moment I read it.

Not to mention it's a gigantic pain in my ass on an almost daily basis.

[89Hen]

Knew it stunk like a dead fish the moment I read it.

Not to mention it's a gigantic pain in my ass on an almost daily basis.

That too, but I didn't want to be selfish.

BTW, I wonder how much the average consumer knows how much it hurt them.

[expandspanos]

[youtube]http://www.youtube.com/watch?v=5msVl3oZl4U[/youtube]

[89Hen]

Where are those damn black helicopters when you need them?

[AZGrizFan]

Not to mention it's a gigantic pain in my ass on an almost daily basis.

That too, but I didn't want to be selfish.

BTW, I wonder how much the average consumer knows how much it hurt them.

...under the guise of the "Consumer Financial Protection Bureau".

[kalm]

Hey, I cant blame a guy for making a buck, but I figure you for more of a pro-competition and less tax payer backed and subsidized rate kind of guy...at least politically. That's the main point of the linked rant after all.

Painting big banks and the people that work for them as evil doesn't make for more competition. It's often funny that somebody who is insistant on working with a local lender doesn't realize their local lender is a correspondent lender who is selling the loan to BofA, Wells Fargo or Citi.

They can't be evil, they're inanimate corporations...oh wait...

Proper regulation, and allowing them to fail would help competition...and yes a few folks at the top should go to jail.

[expandspanos]

[kalm]

It isn't so much the size of the banks per se, it's the fact that they're allowed to take depositors' money and bet it on risky investment packages. Reinstating Glass-Steagall would go a long ways towards correcting a lot of problems, IMO.

Agreed. Reinstate Glass-Steagall and repeal Dodd-Frank.

[89Hen]

Proper regulation, and allowing them to fail would help competition...

Yes, but "proper regulation" is a tough nut. The real problem from what I can see is that legislators don't want any input from lenders when it comes to making the regulations. I'm sure they see it as a conflict of interest, which to some extent is true. BUT, if you don't consult lenders, you are going to pass regulations that don't work and have severe unintended consequences. Had Dodd-Frank consulted even Z or I, we could have had MUCH better regulations. I'm telling you, within 90 seconds of me reading what they were doing, I came up with several HUGE items that were going to be issues... and they are.

[kalm]

Proper regulation, and allowing them to fail would help competition...

Yes, but "proper regulation" is a tough nut. The real problem from what I can see is that legislators don't want any input from lenders when it comes to making the regulations. I'm sure they see it as a conflict of interest, which to some extent is true. BUT, if you don't consult lenders, you are going to pass regulations that don't work and have severe unintended consequences. Had Dodd-Frank consulted even Z or I, we could have had MUCH better regulations. I'm telling you, within 90 seconds of me reading what they were doing, I came up with several HUGE items that were going to be issues... and they are.

That makes sense. And I agree. It's almost like the legislators are unqualified at their jobs. A Kalm administration would appoint you and Z to Treasury.

[D1B]

Proper regulation, and allowing them to fail would help competition...

Yes, but "proper regulation" is a tough nut. The real problem from what I can see is that legislators don't want any input from lenders when it comes to making the regulations. I'm sure they see it as a conflict of interest, which to some extent is true. BUT, if you don't consult lenders, you are going to pass regulations that don't work and have severe unintended consequences. Had Dodd-Frank consulted even Z or I, we could have had MUCH better regulations. I'm telling you, within 90 seconds of me reading what they were doing, I came up with several HUGE items that were going to be issues... and they are.

Z or you!

[89Hen]

Z or you!

Really anyone with experience and ethics will do.

[89Hen]

It's almost like the legislators are unqualified at their jobs. A Kalm administration would appoint you and Z to Treasury.

No. My expertise is limited to mortgage origination and maybe throw in how to fix a slice. I don't expect legislators to know much about mortgages, but they should know enough to get input from the right people.

[kalm]

It's almost like the legislators are unqualified at their jobs. A Kalm administration would appoint you and Z to Treasury.

No. My expertise is limited to mortgage origination and maybe throw in how to fix a slice. I don't expect legislators to know much about mortgages, but they should know enough to get input from the right people.

I'm sure I could find a position for you. Can you cure a trap hook?

[89Hen]

No. My expertise is limited to mortgage origination and maybe throw in how to fix a slice. I don't expect legislators to know much about mortgages, but they should know enough to get input from the right people.

I'm sure I could find a position for you. Can you cure a trap hook?

I can hit one.

[blueballs]

So you must be a proponent of TBTF, monopolies, and government intervention in markets then...interesting.

Nope. Just like working for them.

Local banks and credit unions are good for some things. Low rates on mortgages isn't one of them.

He's right... Go to a mortgage broker who actually owns his company... that's where you will get your best deal because he can charge anything he wants. The Federal Reserve rule on originator compensation of April 2011 gave business owners (like me) a huge hammer.