Congress will Act: Some bankers, financiers may go to Jail!

I find it actually hilarous that congress will actually go after banks. Ummm weren't they the ones that forced the banks to offer such ridiculous mortgage loans in the first place? By telling them they need to lend to more minority people, who in turn, might not have had the credit/money saved to own a house in the first place?

While it might slow down some legal lender, it doesn't do anything to the illegal lenders lending from offshore.

beli I have to totally agree .... the regular banks did not break any laws.... they did not do anything legally wrong. Morally maybe, but EVERYONE was doing the same thing, and they were being bolstered and bullied by the loudmouths in Government and media, who are all now pointing fingers right back at the same banks that they bullied in the first place!

The payday loan places might have been doing ilegal things, but I don't know anything about them.

I am trying to refinance, and can't find anyone who is lending right now ...... they are all scared to lend money to anyone, they are seeing how much the banks are hated by everyone right now, and don't want to be everyones scapegoat. As much as I hate to say it, I understand why they aren't lending! They are damned if they do and damned if they don't!

smo65d11, have you tried a small local credit union? My best friend just got a car loan from hers. Another friend got another car loan from his bank (not sure if his was acredit unin or not) Just a thought.

Even if some of the arguments etc, were started by Congress, they, but moreso the President, will have the last word regardless. They, yes are looking to hold some people accountable. Someone should be, and for better or worse, the lawmakers that we have elected are supposed to act to protect the people..for good or for ill I suppose. We do need more consumer advocacy on the ground and the laws need to be changed and stenghthened in order to protect consumers. For so long, we've not had enough championing bodies on the ground to look after the little guy.

bandibreath, i'm sorry if they are looking for someone to hold accounatable, they should be holding themselves accountable. End of story. But since this is politics they won't.. and just point the blame somewhere else.

sorry but in my humble opinion LESS Governement involvement in our lives and more PERSONAL RESPONSIBILITY is the only thing that will help the American People ... not being given handouts and sure as hell LESS "looking after" ... if the little guy is "helped", he will STAY little!

I thought "we" were the government?

LOL yeah right! No matter what party is in power, "we" are NEVER "them".

I think the Libertarians are probably the closest to my feelings ... stay out of my bedroom, stay out of my workplace, stay out of my church (if I went to one!), stay out of my doctors office, stay out of my checkbook!

than we don't have a true democracy nor is this a republic but a despotism. Like it or not, government as it stands, is a necessary "evil". Cynicism does not change, nor has it ever changed anything. ONe of the problems with our country is that people complain much more than they "activate". If you do not advocate change, you never get it. If you are dissatisfied with the government, according to T. Jefferson, than you must change it. It takes more courage to actively change it than to go along with the status quo, aNd it is not easy, but cynicism allows what is corrupt to continue. No Congress was not right nor has it ever been right in all of it's decisions, but if we give up on our own system, than we will become a nation that will be run completely by tyrants, and any dissenting voices will be hushed up through intimidation and even jailed, and forums like this as well as freedom of speech in general, will no longer exist. Cynicism is dangerous in a democracy. All you have to do is revisit the 20th century to see the results when the people disengage from their own government. Continue to hold our officials accountable, but support them also when they are attempting to right something that never should have occured. Government is only as effective as the people that are governed.

I do call, write, send emails and post my feelings. But am I going to go an run for office? Nope.

Yeah, Congress will hold hearings and NOTHING will come of it...just like all the other hearings!

That is because in recent years, public opinion was that of malaise and apathy. Bush and Cheney could not be impeached because the public will to do it did not exist. In some factions yes, but the masses, no. If there is public will behind what public servants propose, things do get done. Unfortunately, the death penalty is widely accepted in this culture, and Legislators were able to get it passed because the will of the people supported it. Hopefully, the death penalty will eventually be overturned, but I am just using that as an example.

The death penalty should be enforced, not overturned.

Deleted - Off Topic

based on statistics, how many more "minorities" or "blue collar workers" commit murder compared to "whites" and "white collar workers"?

Deleted - way way way off topic. This is a forum dedicated to financial issues not whatever it was you were trying to enlighten us on - Moderator