GreyjoyBastard posted:

Just to be clear this is the actual vote on "let's exempt banks that make 500 or fewer loans a... year? from some provisions".

Which I'm still pretty sure I'm against but let's just make sure we're calling Dems a waste for the correct reason.

quote:

President Trump boasted in a fundraising speech Wednesday that he made up facts in a meeting with the leader of a top U.S ally, saying he insisted to Canadian Prime Minister Justin Trudeau that the United States runs a trade deficit with its neighbor to the north without knowing whether or not that was the case.

“Trudeau came to see me. He’s a good guy. Justin. He said ‘No, no, we have no trade deficit with you, we have none. Donald, please’” Trump said, mimicking Trudeau, according to audio obtained by The Washington Post. “Nice guy, good looking guy, comes in – ‘Donald we have no trade deficit.’ He’s very proud because everybody else, you know, we’re getting killed. ...

“So he’s proud. I said, ‘Wrong Justin, you do.’ I didn’t even know. ... I had no idea. I just said ‘You’re wrong.’ You know why? Because we’re so stupid. … And I thought they were smart. I said, ‘You’re wrong Justin.’ He said, ‘Nope we have no trade deficit.’ I said, ‘Well in that case I feel differently,’ I said ‘but I don’t believe it.’ I sent one of our guys out, his guy, my guy, they went out, I said ‘check because I can’t believe it.’

‘Well sir you’re actually right. We have no deficit but that doesn’t include energy and timber … And when you do we lose $17 billion a year.’ It’s incredible.”

FizFashizzle posted:

lol this is about as trump as it gets.

https://www.washingtonpost.com/news...m=.19ab58ff4839

quote:

He also seemed to threaten to pull U.S. troops stationed in South Korea if he didn’t get what he wanted on trade with Seoul, an ally. He said the country had gotten rich but United States politicians never negotiated better deals. “We have a very big trade deficit with them, and we protect them,” Trump said. “We lose money on trade, and we lose money on the military. We have right now 32,000 soldiers between North and South Korea. Let’s see what happens.”

quote:

“It’s the bowling ball test. They take a bowling ball from 20 feet up in the air and drop it on the hood of the car,” Trump said of Japan. “If the hood dents, the car doesn’t qualify. It’s horrible,” he said. It was unclear what he was talking about.

Mr Ice Cream Glove posted:

https://twitter.com/evansiegfried/status/971566904136601605?s=20

Rigel posted:

thats probably fine, because we have to keep in mind the purpose of the stress test. It is to make sure a bank can survive a very bad, unexpected, and unlikely series of various economic events if they were to occur so that the downfall of that one bank doesn't cripple the US financial system.

If you have less than $50B in assets, we'll be fine if you do something stupid and your little bank goes down in flames. If you are Bank of America, maybe not so much and we've got to keep a close eye on you.

FizFashizzle posted:

lol this is about as trump as it gets.

https://www.washingtonpost.com/news...m=.19ab58ff4839

axeil posted:

NO

NO
NO
NO
NONONONONOONONONO

Christ.

250B is a ludicrously high barrier and exempts a ton of banks that would really, really surprise you.

The processing banks that process basically every transaction in the country? Exempt.

M&T bank? Exempt.

PNC? Exempt.

Capital One? Exempt.

With the exception of 2008, banking crises are not caused by a single large firm failing but rather from tons of little shops going under. The stress testing requirements force these smaller banks to actually employ someone in their risk management department rather than just having their cousin vouch for people.

I reviewed these submissions back when I was a bank regulator and even the biggest bank's submissions were plagued with errors and laughable modeling.

This is a Big Deal and I'm so loving mad at my poo poo tier Senators for loving us in the rear end like this.

axeil posted:

It's absolute poo poo and I made an effort post on it back in Trump thread III.

It's utter poo poo and anyone who says it's a good idea is lying to you. And I'm a filthy centrist who's involved in the industry, not an Occupy Wall Street type.

edit: occupy dog tax

Potato Salad posted:

So, what does an old gal making 40k/year have to do to jump in on this gravy train with a small home purchase? Go rate shopping at lovely local banks?

squirrelzipper posted:

Holy poo poo though that whole article is kind of terrifying.

quote:

“It’s the bowling ball test. They take a bowling ball from 20 feet up in the air and drop it on the hood of the car,” Trump said of Japan. “If the hood dents, the car doesn’t qualify. It’s horrible,” he said. It was unclear what he was talking about.

Bel Shazar posted:

That RealDoll company does some amazing work...

e: f,b

FizFashizzle posted:

its clear trump goes into those meetings without a loving idea what he's talking about and just wings it.

or he's making this up now.

or both wtf knows.

Covok posted:

https://www.vice.com/amp/en_us/article/7x75vg/the-most-prominent-hate-group-in-america-may-collapse-because-of-an-affair-vgtrn

Have we spoken yet that a white nationalist group fell apart because it's leader was LITERALLY CUCKED!!!

There Bias Two posted:

You're alive! I haven't seen your posts in ages. Also that is hilarious.

Nothus posted:

I can usually understand even the most broke-brained Trump poo poo, but I have no idea about the bowling ball thing. I assume it's a Toyota commercial from the 80's.

Nothus posted:

I can usually understand even the most broke-brained Trump poo poo, but I have no idea about the bowling ball thing. I assume it's a Toyota commercial from the 80's.

axeil posted:

NO

NO
NO
NO
NONONONONOONONONO

Christ.

The threshold was $50B. Which is reasonable. The problem is that threshold just got changed to $250B, which is very, very unreasonable.

250B is a ludicrously high barrier and exempts a ton of banks that would really, really surprise you.

The processing banks that process basically every transaction in the country? Exempt.

M&T bank? Exempt.

Sunturst? Exempt.

BB&T? Exempt.

HSBC?

Goldman loving Sachs?

In fact, here's a table showing every single bank that would be covered by the stress tests now. You don't see them here, they aren't covered.

pre:

+----------------------------------------------+------------+-----------------------+
| Bank Name                                    | Nat'l Rank | Consol Assets (Mil $) |
+----------------------------------------------+------------+-----------------------+
| JPMORGAN CHASE BK NA/JPMORGAN CHASE & CO     | 1          | 2,153,028             |
+----------------------------------------------+------------+-----------------------+
| WELLS FARGO BK NA/WELLS FARGO & CO           | 2          | 1,737,980             |
+----------------------------------------------+------------+-----------------------+
| BANK OF AMER NA/BANK OF AMER CORP            | 3          | 1,725,215             |
+----------------------------------------------+------------+-----------------------+
| CITIBANK NA/CITIGROUP                        | 4          | 1,407,297             |
+----------------------------------------------+------------+-----------------------+
| U S BK NA/U S BC                             | 5          | 452,252               |
+----------------------------------------------+------------+-----------------------+
| PNC BK NA/PNC FNCL SVC GROUP                 | 6          | 363,681               |
+----------------------------------------------+------------+-----------------------+
| CAPITAL ONE NA/CAPITAL ONE FC                | 7          | 290,965               |
+----------------------------------------------+------------+-----------------------+
| T D BK NA/TD GRP US HOLDS LLC                | 8          | 285,495               |
+----------------------------------------------+------------+-----------------------+
| BANK OF NY MELLON/BANK OF NY MELLON CORP     | 9          | 281,342               |
+----------------------------------------------+------------+-----------------------+

With the exception of 2008, banking crises are not caused by a single large firm failing but rather from tons of little shops going under. The stress testing requirements force these smaller banks to actually employ someone in their risk management department rather than just having their cousin vouch for people.

I reviewed these submissions back when I was a bank regulator and even the biggest bank's submissions were plagued with errors and laughable modeling.

This is a Big Deal and I'm so loving mad at my poo poo tier Senators for loving us in the rear end like this.


edit: updated with a table and with some bank names in my examples changed as they were above $250B.

Johnny Bravo posted:

I actually think its referencing this
https://www.youtube.com/watch?v=00NH07kuXEQ
Like, he says a lot of stupid poo poo that makes no sense at all but I really think he had seen letterman do his bowling ball gags from years past and his brain is so fried that gently caress it, just claim Japan does it why not.

axeil posted:

NO

NO
NO
NO
NONONONONOONONONO

Christ.

The threshold was $50B. Which is reasonable. The problem is that threshold just got changed to $250B, which is very, very unreasonable.

Deteriorata posted:

Johnny Bravo posted:

I actually think its referencing this

Like, he says a lot of stupid poo poo that makes no sense at all but I really think he had seen letterman do his bowling ball gags from years past and his brain is so fried that gently caress it, just claim Japan does it why not.

Ballz posted:

https://twitter.com/timherrera/status/973985188249251846?s=21

Just a reminder that the government admits UFOs exist and they have no idea wtf they are but no one cares about it because our President is too busy talking about dropping bowling balls onto cars.

Covok posted:

I was banned for a month and its tax season so I've been working 60-80hrs and being yelled at by clients for doing their taxes accurately.*

*if they owe and/or get back less this year.

Ballz posted:

https://twitter.com/timherrera/status/973985188249251846?s=21

Just a reminder that the government admits UFOs exist and they have no idea wtf they are but no one cares about it because our President is too busy talking about dropping bowling balls onto cars.

Slugworth posted:

My father fell and got a concussion. Doctor's asking him the date, where he's at, etc. Answers everything perfectly. Doctor asks who the current president is, and he has no clue.

So. Jealous.

nine-gear crow posted:

I had to take my grandfather for cognitive tests back in 2009. Even in Canada they ask you who the US president is. He responded, lightning quick, "the black guy." The nurse just rolled her eyes and went "close enough," and marked it a pass.

Vladimir Putin posted:

What? Why wouldn’t they ask who the PM of Canada is.

TOOT BOOT posted:

Probably not worth thinking about because even if we do have evidence it'll never go public.

TOOT BOOT posted:

Probably not worth thinking about because even if we do have evidence it'll never go public.

Ballz posted:

Three US Navy videos have been released since December showing pilots interacting with them (and being utterly baffled at what they’re encountering).

But yes it’d be nice to know what became of the mystery alloys that were recovered.

Ballz posted:

Three US Navy videos have been released since December showing pilots interacting with them (and being utterly baffled at what they’re encountering).

But yes it’d be nice to know what became of the mystery alloys that were recovered.

Ballz posted:

https://twitter.com/timherrera/status/973985188249251846?s=21

Just a reminder that the government admits UFOs exist and they have no idea wtf they are but no one cares about it because our President is too busy talking about dropping bowling balls onto cars.