% | $
Quotes you view appear here for quick access.

Carver Bancorp, Inc. Message Board

  • no_slappz no_slappz May 1, 2012 10:04 AM Flag

    Occupy Carver

    You would think the Occupy Wall Street crowd would cheer for Carver.

    What other bank has so clearly repudiated capitalism?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • GS GE AXP AIG and many more have been given bailouts and bank charters and some are not banks
      does capitalism exist ?


      • 1 Reply to newdayjoac
      • newdayjoac:

        GS, GE, AXP and AIG were given LOANS by the government. Those LOANS have been repaid. The exception is AIG, which has only repaid part of the money it was LOANED.

        Hence, these institutions were NOT bailed out, as so many people like to say.

        Moreover, had they all been allowed to fail, then our banking system may well have stopped functioning, which would have meant that it would have been impossible to withdraw money from a bank and it would have been impossible to use a credit card or debit card for purchases.

        In other words, a complete breakdown of our financial system was looming. The actions taken by the federal government were -- in hindsight -- good. Not perfect. But good enough to save the day.

    • ok ok its politics : ) we should vote with the elephant

    • newdayjoac:

      It is the government that gives us the definition of "bank".

      You'll have to take up that debate with the people in charge.

      The people at the "banks" merely read the official government definition of "bank" and fit their organizations into the box. Simple.

      Most of the bonuses are paid in stock that's distributed over many years in the future.

      Today, GM makes cars. Formerly, through GM Credit it was as much a bank as GE Credit.

      Meanwhile, GE's Immelt and Obama are new best friends, yet another sign of Obama's hypocrisy.

      Small banks are hedge funds just as large banks are. They too gave mortgage loans hedged with only the real estate purchased with the loan.

      Congress allowed small banks and big banks to underwrite mortgages for deadbeats who had no money for downpayments. If everyone had been required to cough up 20%, there'd have been no crisis.

      Blame Congress.

      Blame Jimmy Carter for starting trouble with the Community Reinvestment Act. Blame Jimmy Carter for starting the Savings & Loan Crisis by ending Regulation Q.

      Yep, there's value in small banks now. But not in Carver, which is in perpetual failure mode despite being the beneficiary of several true bailouts.

4.43-0.32(-6.64%)Aug 26 3:54 PMEDT