I have voted Democrat in EVERY election of my life since AGAINST nixon, & will this time too;BUT OUR

[supraTruth]

Federal Government, 1st ALLOWING the bank executives to get their bonuses while accepting Government loans, and NOW SUING them for making bad loans in THE PAST & requiring banks to take on larger capital requirements, removing credit, is only going to slow our growth out of the recession & possibly send US back into 1. If so, it will leave US w/ANOTHER MAJOR DISASTER LIKE rick perry!

This is just not good; SERIOUSLY, it needs to be stopped fast; but just I don't see how it will be.

http://www.cnbc.com/id/44407125

[TheWraith]

1. Uh, no. Requiring banks to actually keep capital on hand is designed to PREVENT a crash.

And Dick Bove is a right-wing asshole and propagandist for banks. Some of his other statements:

Dick Bove: Banks Entering 'Golden Age' With 20% Profit Growth

http://www.cnbc.com/id/41060318/Banks_Entering_Golden_Age_With_20_Profit_Growth_Bove

Dick Bove: Governments Are Killing Us All

http://blogs.wsj.com/deals/2011/09/02/dick-bove-governments-are-killing-us-all/?mod=google_news_blog

Dick Bove: Obama's Mortgage Refinancing Bailout Is Doomed To Fail

http://www.businessinsider.com/dick-bove-obamas-mortgage-refinancing-bailout-is-doomed-to-fail-2011-9

Bove Says Shares of U.S. Banks May Quadruple by 2012

http://www.businessweek.com/news/2010-03-24/dick-bove-says-bank-stocks-may-quadruple-by-2012-update1-.html

"“The United States financial system and its economy are at a critical juncture. Actions being suggested in Washington have placed it on a precipice. If the President and Congress continue down the path that each has indicated, in my judgment, the equity markets will crash. Moreover, the financial system will have to be rebuilt on a new base. Shareholders simply refuse to accept what is happening in Washington at the present time.”

Bove attributes the recent equity market volatility to two alarming political trends:
Venezuelan style Democracy, i.e., socialist trends in government."

http://seekingalpha.com/article/184389-dick-bove-on-the-verge-of-a-politically-driven-equity-crash

[supraTruth]

2. STILL, credit IS important to a growing economy. It was the Fed JACKING UP the Discount Rate to

over 6% in 2006 just in time for the RE-FI's that created the housing BUST. I know U won't find any of the CONS admitting it, but it WAS the catalyst.

http://www.newyorkfed.org/markets/statistics/dlyrates/fedrate.html