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Upset by Warren, U.S. banks debate halting some campaign donations

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posted on Mar, 31 2015 @ 06:08 AM
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(Reuters) - Big Wall Street banks are so upset with U.S. Democratic Senator Elizabeth Warren's call for them to be broken up that some have discussed withholding campaign donations to Senate Democrats in symbolic protest, sources familiar with the discussions said.

Representatives from Citigroup, JPMorgan, Goldman Sachs and Bank of America, have met to discuss ways to urge Democrats, including Warren and Ohio Senator Sherrod Brown, to soften their party's tone toward Wall Street, sources familiar with the discussions said this week.

Bank officials said the idea of withholding donations was not discussed at a meeting of the four banks in Washington but it has been raised in one-on-one conversations between representatives of some of them. However, there was no agreement on coordinating any action, and each bank is making its own decision, they said.

The amount of money at stake, a maximum of $15,000 per bank, means the gesture is symbolic rather than material

Moreover, banks' hostility toward Warren, who is not a presidential candidate, will not have a direct impact on the presumed Democratic front runner in the White House race, Hillary Clinton. That's because their fund-raising groups focus on congressional races rather than the presidential election
www.reuters.com...

Pls klik for the rest and to view video.
This is exactly why in my not so humble opinion she should run for president,I wished she would change her mind,for even if Hilary end-up beating her, hopefully she and the corporatist Dems would get the message..which I doubt but there shouldn't be a coronation.




posted on Mar, 31 2015 @ 06:13 AM
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a reply to: Spider879

Is your point for americans to grovel for the bankers? Guess we will see if that happens.



posted on Mar, 31 2015 @ 06:16 AM
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a reply to: Spider879

The consolidation of banking powers, personal and commercial is exactly what let to the financial crisis of 2008 and beyond.

What Warren is proposing is actually just to revert to policy prio to the early 2000's. The economy was in much better shape and banks weren't 'too big to fail'.

~Tenth



posted on Mar, 31 2015 @ 06:30 AM
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a reply to: tothetenthpower

Damned Bill Clinton I liked the guy but lets be honest destroying Glass–Steagall was the worst economic/financial decision in 60yrs. he set us back big time yes Bush busted the economy but not without the help of Bill, do you think his wife as POTUS and him as first man, would re-install the act?



posted on Mar, 31 2015 @ 06:38 AM
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originally posted by: Spider879
a reply to: tothetenthpower

Damned Bill Clinton I liked the guy but lets be honest destroying Glass–Steagall was the worst economic/financial decision in 60yrs. he set us back big time yes Bush busted the economy but not without the help of Bill, do you think his wife as POTUS and him as first man, would re-install the act?


I doubt it. Bill and Hillary are far too invested in those industries to make enemies if you ask me.

~Tenth



posted on Mar, 31 2015 @ 06:45 AM
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a reply to: Spider879

Often when issues are not raised at the board but talked about privately it means the issue is very important and they don't want it official or minuted.

Time these gits got their come uppance and felt the pressure that is building against them and will erupt. All we have to do is to stop paying in our salaries for 1 month to Without our money going in they wouldn't have businesses. We actually need something on the lines of a bank customer's union to mount a collective offensive.



posted on Mar, 31 2015 @ 06:55 AM
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a reply to: Spider879

I would stand behind her on this topic.

The banks need to be broken up.

They are a monopoly that is crushing the middle class for pure unadulterated greed.

I say if a bank ever gets bigger than having a few local branches it is time to break it up.



posted on Mar, 31 2015 @ 07:06 AM
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Just the fact that banks donate money to politicians and their parties shows how non democratic the system is. Yet we sit here and discuss it like it's normal.

Enjoy your politics world - you can keep it.



posted on Mar, 31 2015 @ 07:07 AM
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I'm no fan of oversized banks and them purchasing politicians and legislation, but riddle me this: How many of you have outstanding loans or credit balances that you need(ed) in order to get something necessary in life?

These banks made that happen. I have tried most of my life to use local banks, not giant national banks, for any borrowing needs, but the reality is that if you have any loans with these people, you can spout off all you want about them, but you're just sitting there feeding the beasts.

If America could learn to live within its collective means (citizens AND government), then these banks would not have near the power that they do today.
edit on 31-3-2015 by SlapMonkey because: (no reason given)



posted on Mar, 31 2015 @ 07:10 AM
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a reply to: SlapMonkey

I would agree with you, if not for the fact that the banking cartels have colluded in order to make sure that you NEED those loans in order to survive.

Look at the cost of living vs wages? We are a credit society by design, not by want. If wages had increased at the same rate as profits and productivity, this problem would not really exist.

As it stands, people can't live off their wages, so they have to borrow.

~Tenth



posted on Mar, 31 2015 @ 07:12 AM
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a reply to: SlapMonkey

The things most of us "need" are BS materialistic things like phones and tablets, most people are in debt because of consumerism promoted by the banks.

They don't help us. They charge us for a poorly delivered service.

Fk the banks - I don't owe them a penny. It's a wonderful feeling saving up over the long term for something, going to buy it then realising you didn't need it/novelty has worn off - knowing that if you had got it on credit you would be in debt and not using whatever it was.

Yeah they lend money for houses - but its their fault the houses are so expensive anyway!



posted on Mar, 31 2015 @ 07:37 AM
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a reply to: Spider879

Nice...as if Warren is telling people what they don't know already. I guess she is a convenient target for their ire, but either way I agree with her that the banking system as it is, has created the screwed up social system we all tread water in.



posted on Mar, 31 2015 @ 08:14 AM
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originally posted by: tothetenthpower
a reply to: SlapMonkey
I would agree with you, if not for the fact that the banking cartels have colluded in order to make sure that you NEED those loans in order to survive.

Look at the cost of living vs wages? We are a credit society by design, not by want. If wages had increased at the same rate as profits and productivity, this problem would not really exist.

As it stands, people can't live off their wages, so they have to borrow.

~Tenth


I would argue that this is incorrect--people are gullible and succumb to the peer pressure of needing all kinds of technologies, or nice cars, or big homes or whatever, but the reality of life is that it's very easy not to live off of loans and debt.

That's what I'm working toward--my wife and I haven't used a credit card in over 4 years (even during Christmas shopping), and we are only paying down debt accrued as stupid twenty-something, not seeking out new debt. We downsized from our $180K home to an $80K home, sold our new vehicles and bought 13-year-old ones instead. Etc., etc.

It's possible--and there are no "banking cartels" holding a gun to your head forcing you to take out loans and credit cards. Americans are just too gullible to realize that everyone can live within their means, and that credit scores are a farce. Every time we paid off a loan or credit balance, our scores went down. Yes, the system is rigged, but if you're paying attention and don't fall for the materialism that's permeated America, you can do fine without big banks.



posted on Mar, 31 2015 @ 09:45 AM
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a reply to: SlapMonkey


I would argue that this is incorrect--people are gullible and succumb to the peer pressure of needing all kinds of technologies, or nice cars, or big homes or whatever, but the reality of life is that it's very easy not to live off of loans and debt.


How much of consumerism is driven by peoples' need to keep up with the Joneses and how much is fueled by the brainwashing effects of the ubiquitous advertising we're all exposed to from the cradle to the grave?



posted on Mar, 31 2015 @ 09:53 AM
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a reply to: Spider879

She needs to lose her anti-gun stance and respect my rights before I will consider her. She also wants to raise taxes and supports Obamacare. Too many wrong positions don't get offset by one correct one.



posted on Mar, 31 2015 @ 09:54 AM
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a reply to: Spider879
Campaigns should be financed directly from the Taxpayers, everyone the same. As it is the cost is far higher when the Money Maggots are the backers, destroyers of the Republic.



posted on Mar, 31 2015 @ 10:57 AM
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a reply to: Spider879

Banks are against her?

Seems like that might work in her favor.



posted on Mar, 31 2015 @ 11:02 AM
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originally posted by: ugmold
a reply to: Spider879
Campaigns should be financed directly from the Taxpayers, everyone the same. As it is the cost is far higher when the Money Maggots are the backers, destroyers of the Republic.


Limit election/campaign spending if you will, but taxpayer-funded elections? bad idea. who determines how much tax $ gets spent?
maybe, maybe, a voluntary $1 thing, but no more.



posted on Mar, 31 2015 @ 11:12 AM
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originally posted by: Spider879


(Reuters) - Big Wall Street banks are so upset with U.S. Democratic Senator Elizabeth Warren's call for them to be broken up that some have discussed withholding campaign donations to Senate Democrats in symbolic protest, sources familiar with the discussions said.

Representatives from Citigroup, JPMorgan, Goldman Sachs and Bank of America, have met to discuss ways to urge Democrats, including Warren and Ohio Senator Sherrod Brown, to soften their party's tone toward Wall Street, sources familiar with the discussions said this week.

Bank officials said the idea of withholding donations was not discussed at a meeting of the four banks in Washington but it has been raised in one-on-one conversations between representatives of some of them. However, there was no agreement on coordinating any action, and each bank is making its own decision, they said.

The amount of money at stake, a maximum of $15,000 per bank, means the gesture is symbolic rather than material

Moreover, banks' hostility toward Warren, who is not a presidential candidate, will not have a direct impact on the presumed Democratic front runner in the White House race, Hillary Clinton. That's because their fund-raising groups focus on congressional races rather than the presidential election
www.reuters.com...

Pls klik for the rest and to view video.
This is exactly why in my not so humble opinion she should run for president,I wished she would change her mind,for even if Hilary end-up beating her, hopefully she and the corporatist Dems would get the message..which I doubt but there shouldn't be a coronation.


We don't get to have a say in who is coronated.



posted on Mar, 31 2015 @ 11:29 AM
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Has anyone seen the doc the four horsemen it sums it up but very few can or will change their attitude and lifestyle,Slapmonkey despite having a conservative bent is on the right track on this , how ever if we the people are gonna participate in a currency driven economy then we really need to ween our selves off their dependency a possible solution is the old Caribbean system of SUSU banking mind you it's not perfect,and may not meet all your needs but it could be a better alternative than messing with Banksters, this system bought us out of low income to middle class and many of my child hood immigrant family 1st and 2nd gen, friends have moved beyond just being middle class.
Susu Banking System How to avoid Banksters
www.abovetopsecret.com...
I am sure there are others out there but that is the only one I can speak from family experience. but ultimately we need to change how we do things without being stifled by Communism.
edit on 31-3-2015 by Spider879 because: (no reason given)




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