The relationship between banks and government, the power of the financial industries lobbyists, is obscene.

Alloak - I know you want to turn this into a Justice Department/Obama "bad" thread. The reality is that Congress is deeply in bed with the financial industry. As is Obama. It is the clearest sign that the United States form of government is closer to an oligarchy than a democracy.

Not sure I understand your reaction. How would this be good for the banks, the government trying to take certain customer groups away from them?

Not sure I understand your reaction. How would this be good for the banks, the government trying to take certain customer groups away from them?

For once we agree Alloak. Why should the government decide what businesses are "reputation risks"?

As long as it is a legal business and the banks are not violating any banking rules the government should not be involved.

What exactly is a "reputation risk" anyway?

Not sure I understand your reaction. How would this be good for the banks, the government trying to take certain customer groups away from them?

I'm saying that the government gives the banks far more than they take away. Quite frankly I ain't crying for any bank. You really think this move by the government is going to hurt J. P. Morgan? Will they even notice?

What happened to that bank that was laundering money for terrorist, drug dealers and Iran? Anyone go to jail? What percentage of their business were they fined?

I don't think this "choke hole" will elicit even one tiny gasp.

Not sure I understand your reaction. How would this be good for the banks, the government trying to take certain customer groups away from them?

I'm saying that the government gives the banks far more than they take away. Quite frankly I ain't crying for any bank. You really think this move by the government is going to hurt J. P. Morgan? Will they even notice?

What happened to that bank that was laundering money for terrorist, drug dealers and Iran? Anyone go to jail? What percentage of their business were they fined?

I don't think this "choke hole" will elicit even one tiny gasp.

It might not hurt the banks much but, if I am reading this correctly, it sure can hurt small legitimate businesses whose accounts are cutoff for being identified as "reputation risks".

The idea is to keep legal businesses operating and those employed by them to continue making money, being consumers and paying into the system.

The operator of a website who can no longer access the means to conduct e-commerce is finished. Likewise, an ammo maker who is denied banking functions is pretty much ruined. No credit lines, must accept cash only, ect..

Just a few examples.......I thought the government was supposed to stay out of making, imposing, or enforcing moral judgments anyway. Right?

The idea is to keep legal businesses operating and those employed by them to continue making money, being consumers and paying into the system.

The operator of a website who can no longer access the means to conduct e-commerce is finished. Likewise, an ammo maker who is denied banking functions is pretty much ruined. No credit lines, must accept cash only, ect..

Just a few examples.......I thought the government was supposed to stay out of making, imposing, or enforcing moral judgments anyway. Right?

I hope I didn't say I support this. Did I?

I guess I misunderstood Alloak's original posts, "Government still pressuring banks to further a political agenda..." and "How would this be good for the banks, the government trying to take certain customer groups away from them?" As indicating the government was waging some kind of war against the banks.

I loved how the government's reaction to legal pot, i.e. not letting pot businesses keep their money in federally insured banks backfired.

I don't think this is a correct move by the government. I also don't believe this is a very big deal. I'm assuming Fox News will make this the next BS Benghazi and I see it, in the scheme of other far larger intrusions by the government, as much ado about nothing.

I thought this was about a sequel to "Deep Throat". Never mind.

Or maybe some Greg Norman footage on the back nine at Augusta...