Comments on: What Would You Ask the Banking CEOs? http://www.consumerismcommentary.com/2009/02/11/what-would-you-ask-the-banking-ceos/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sat, 21 Nov 2009 16:42:00 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Tim http://www.consumerismcommentary.com/2009/02/11/what-would-you-ask-the-banking-ceos/#comment-188285 Tim Fri, 13 Feb 2009 09:48:25 +0000 http://www.consumerismcommentary.com/?p=5303#comment-188285 I wouldn't ask them anything. Let me see: we have a economic problem, because consumers over leveraged themselves, borrowed and spent more than they could afford. We now have Congress chastising the execs telling them to lend money. So, Congress wants the banks to lend money again to regular joe who is already over leveraged? The banks are lending, they are finally only lending to people and companies with excellent credit. I think the questions should be reversed: exactly who does congress want the banks to lend to? How much risk, again, does Congress want the banks to take on loans? the CEOs have been working for taxpayers, the taxpayers who owned shares in their companies. Just because the govt has lent them taxpayer money, doesn't mean congress or the taxpayer has sole voting rights or control over what they should do. I don't know how to run a bank, and I sure as hell know Congress doesn't know. It's pretty disingenuous of Congress to be posturing so when they are $13t in debt and going to spend another $2t. if a bank gives you a credit card or a personal loan, you would take pause if they said you have to run your tickle me elmo purchase by them first because they are giving you the money. I wouldn’t ask them anything. Let me see: we have a economic problem, because consumers over leveraged themselves, borrowed and spent more than they could afford. We now have Congress chastising the execs telling them to lend money. So, Congress wants the banks to lend money again to regular joe who is already over leveraged? The banks are lending, they are finally only lending to people and companies with excellent credit. I think the questions should be reversed: exactly who does congress want the banks to lend to? How much risk, again, does Congress want the banks to take on loans?

the CEOs have been working for taxpayers, the taxpayers who owned shares in their companies. Just because the govt has lent them taxpayer money, doesn’t mean congress or the taxpayer has sole voting rights or control over what they should do. I don’t know how to run a bank, and I sure as hell know Congress doesn’t know. It’s pretty disingenuous of Congress to be posturing so when they are $13t in debt and going to spend another $2t.

if a bank gives you a credit card or a personal loan, you would take pause if they said you have to run your tickle me elmo purchase by them first because they are giving you the money.

]]> By: Rassah http://www.consumerismcommentary.com/2009/02/11/what-would-you-ask-the-banking-ceos/#comment-188192 Rassah Wed, 11 Feb 2009 18:54:18 +0000 http://www.consumerismcommentary.com/?p=5303#comment-188192 Although it may somewhat reflect whether these CEOs are being responsible with the money, considering the billions involved, I'm no sure how much it would matter whether the CEOs spent 0.000005% of their borrowed money on an economy class plane ticket, or 0.000047% on a private jet. That is a very small margin to be covered by their overall profits needed to cover their loan repayment. Although it may somewhat reflect whether these CEOs are being responsible with the money, considering the billions involved, I’m no sure how much it would matter whether the CEOs spent 0.000005% of their borrowed money on an economy class plane ticket, or 0.000047% on a private jet. That is a very small margin to be covered by their overall profits needed to cover their loan repayment.

]]> By: Flexo http://www.consumerismcommentary.com/2009/02/11/what-would-you-ask-the-banking-ceos/#comment-188191 Flexo Wed, 11 Feb 2009 18:51:39 +0000 http://www.consumerismcommentary.com/?p=5303#comment-188191 shoyu: I'm working on it, thanks. shoyu: I’m working on it, thanks.

]]> By: shoyu http://www.consumerismcommentary.com/2009/02/11/what-would-you-ask-the-banking-ceos/#comment-188190 shoyu Wed, 11 Feb 2009 18:48:15 +0000 http://www.consumerismcommentary.com/?p=5303#comment-188190 When are you going to fix your RSS? When are you going to fix your RSS?

]]> By: Ed http://www.consumerismcommentary.com/2009/02/11/what-would-you-ask-the-banking-ceos/#comment-188182 Ed Wed, 11 Feb 2009 16:14:54 +0000 http://www.consumerismcommentary.com/?p=5303#comment-188182 Questions for the bank CEOs. How much in fees and comissions did your company make on CDOs and securitized mortgage instruments? Are there any financial connections between your company and the rating agencies? Can you define what a fiduciary responsibility means? What would you do if we cut off all bailout funds to your company? Explain why the American public shouldn't call for hangings on Wall Street of Madoff and other white collar criminals? Questions for the bank CEOs.

How much in fees and comissions did your company make on CDOs and securitized mortgage instruments?
Are there any financial connections between your company and the rating agencies?
Can you define what a fiduciary responsibility means?
What would you do if we cut off all bailout funds to your company?
Explain why the American public shouldn’t call for hangings on Wall Street of Madoff and other white collar criminals?

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