Richard Cordray To Lead Consumer Financial Protection Bureau

Richard Cordray To Lead Consumer Financial Protection Bureau Liz Warren out Richard Cordray in to head consumer financial protection bureau. Clearly the republican and President Obama thought Warren would be too tough on the banks and since the republicans are in bed with the banks as is the White House it was predicted that Warren didn't stand a chance. She said it like it was and hit hard for the truth but the banks have leverage in congress and when the banks whine congress listens. It is sad but true. Make big money in penny stocks today

Banks have no fear

Banks stocks have seemed to trend up lately even though the evidence to their solvency is very skeptical.  But the banks seem to be very relaxed and assured knowing they have the treasury and Obama in the palm of their hand. 

The market is controlled by the large financial institutions so it is no surprise to see bank stocks higher. The large funds control 70% of the trades in the stock market according to what I read in Econned. The more the banks are allowed to get away with their schemes I wouldn't be surprised to see bank stocks higher. It think people are starting to realize that the banks have control of the country. There will be little done to take away their power. It is clear that the banks have committed numerous illegal acts but they have suffered no repercussions. Actually their egregious behavior had been rewarded with huge bonuses and free capital.

ECONned from the founder of Naked Capitalism.com

How could we believe any different after seeing the top financial executives at a summit with the president.
13 Bankers: The Wall Street Takeover and the Next Financial Meltdown (Vintage)

Wall Street has its tentacles touching everyone in Washington and no one will dare tell them to knock it off.
Yves Smith'sECONned: How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism [Hardcover](2010)

Ring around the loan mod

Banks making modifications next to impossible.

This is a great article on how the banks have decided that a foreclosure is better than a loan modification regardless of the numbers.  The banks have lost all common sense and they continue to hold the economy hostage.  You can read more here about how the banks are willing to make poor financial decisions, taking great losses in order to avoid modifications. 

Read a related story on how the banks are will still foreclose even it it costs them more than changing loan terms.