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+---- Thread: Abomination grows in the Obama Nation (/thread-369364.html)
Abomination grows in the Obama Nation - THE NC Herd Fan - 05-13-2009 07:19 PM
Quote:Among ideas being discussed are Fed rules that would curb banks' ability to pay employees in a way that would threaten the "safety and soundness" of the bank -- such as paying loan officers for the volume of business they do, not the quality. The administration is also discussing issuing "best practices" to guide firms in structuring pay.
Ironic the feds force banks to loan to people who statistically are highly likely to default but don't want the employees compensated for the efforts to make these loans. The gubment touts how many low income families get loans, but fail to mention these families are more likely to default on said loans.
So a loan officer that works 60 - 80 hours a week to meet the demand of loan applications in direct compliance with the lending standards set forth in gubment regulation and they should not be compensated because a significant percentage of these go into default.
This gubment makes me sick, I busted my tail getting my career started working easily 80 hours a week sometimes two or three weeks without a day off and my effort should net me nothing?!? I should get the same compensation as a slug that shows up (not works) 40 hours, sounds a lot like the Peoples Republic of America.
U.S. Eyes Bank Pay Overhaul