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Nov 03 2011

Shep Smith Denounces Bank of America for Running the World

Obnoxious as he is, Geraldo Rivera may not be the most irritating leftist to find a soapbox at allegedly right-wing Fox News. Here anticapitalist crusader Shep Smith informs us that Bank of America runs the world:

The reason banks are having to raise funds with new fees is that the malevolent Dodd-Frank Act prevents them from earning a profit through more traditional means. The reason Americans — who once believed in freedom — tolerate outrages like Dodd-Frank is that moonbat propagandists like Shemp have been pouring toxic ideology into our ears for generations.

On a tip from Shawn.

23 Responses to “Shep Smith Denounces Bank of America for Running the World”

  1. Shran For President says:

    Shemp is a pathetic news version of a shock-jock; he blows everything out of proportion and tries to terrify his audience by claimning how disturbing, shocking or tragic something is. I cannot stand him or Fox and Friends; the rest of Fox news is pretty fair and balanced, but Shemp and F&F are nothing but egos, asshats, and showboats. I would watch more Fox News if these two shows were replaced with something less-stupid.

  2. AC says:

    Bank of America is a corrupt entity with its hooks in far too many members of Congress. It grew too big to fail because of the implicit guarantee of socialized government backing, which it received after the executives turned the loan portfolio into a casino and began writing junk loans and executing high risk trades more appropriate for a hedge fund.

    If it weren’t for cronies in Congress and the Federal Reserve, the free market would have swept BoA away for its poor lending practices.

    The Tea Party should stand against all TBTF banks. They demanded working taxpayers be looted to backstop their garbage assets. They demanded socialism rescue them from their mistakes. They do not deserve our business.

    As for controlling the world, Shep is a meathead.

  3. ED357 says:

    Shep Smith………


  4. Bloodless Coup says:

    I stopped listening to Shep Smith when I saw him tell what I knew to be absolute lies about Obama’s FORGED birth certificate.

  5. RICH says:

    I can’t stand listening to this guy either. Whenever he’s on, I change to the Fox Business Channel.

    We finally got out power back. 5 days without electricity up here in NH. Un gros merci to Hydro~Quebec for helping restore our service.

  6. Joe says:

    Why is it these dopes scream bloody murder everytime a bank tries to make a profit, but I haven’t heard a word about the proposed 1% tax on every bank transaction. That money would far outpace the bank fees, and it just more for the asspipes in Washington to waste.

  7. Unonymous says:

    Oh give up the euphemisms already liberals. We all know that “Banks/Bankers”=Jews.

  8. Bob Roberts says:

    I’ve corrected Smith several times – he’s actually answered back and thanked me, but never admitted on air he was wrong.

    He is, unfortunately, just a talking head.

  9. Bob Roberts says:

    AC says: November 3, 2011 at 2:38 pm

    Though you went way too far, you are correct in your main point – and in fact it needed to be expanded. The idea that anything is “too big to fail” is part of why we’re in this mess. You can only roll a rock up hill for so long – eventually gravity wins, every time.

  10. Bob Roberts says:

    AC says: November 3, 2011 at 2:38 pm

    You leave out the critical points:

    The banks AND Wall Street were essentially FORCED by GSE’s Fannie and Freddie to take all the toxic loans. This is why complex derivatives were required, too.

    A big deal is made of how banks and lenders are to blame and yes, somewhere deep down in all the frenzy created by this idea that home ownership is a “civil” or “human” right, even if you cannot afford to pay for a home because of your own bad choices and actions, there were some incorrect lending practices going on. Countrywide tried to extort $5k out of me during all that mess, because they believed Dodd and Frank would cover them. Bank of America and others were forced by the government to take on all the bad loans the federal government, and yes, OBAMA, forced lenders to make based on the provisions of and regulations subsequently written with regards to the Community Reinvestment Act. It was precisely all the toxic loans the government forced lenders to make that required the banks and wall street lenders to go back and insist they be allowed some method of diluting the risks involved, hence the creation of complex derivatives to do that.

  11. metryq says:

    Say, isn’t Shep one of the Stooges?

  12. Maudie in Mandeville says:


  13. AC says:

    They were forced to, but they also went way overboard gambling with proprietary product. My company dealt with toxic waste mortgages firsthand during the boom. I saw the worst of the worst. GSE loans might have accommodated some politically correct borrowers, but it took proprietary product to put somebody in a NegAm situation or to give an unemployed bum the keys to a new house with no money down (I saw a competitor do it).

    The TBTF banks gambled so bad in all areas, from commercial mortgages to derivatives. They were able to operate as hedge funds with vestigial retail locations to cash checks for old ladies because they were too big to fail – LTCM on a much greater scale.

    I’m not sure how you would call that overboard. They really were a pox on the taxpayers. If we’re going to have the FDIC, then TBTF banks should be broken up.

  14. CT says:

    Prettyboy Shep should be an inbed with the OWS till he starts crying about the stink.

  15. Reiuxcat says:

    I’ve wrote Fox about Shep flase statements and never got a reply back.

    I turn to the military channel when Shep comes on the tube.

  16. Eoin says:

    Shepard Smith is one obnoxious blowhard. I was absolutely confused WHY he had the reaction he did towards the FL state legislator who was introducing a bill to make failure to report the missing status of a child within 24 hours a felony. The dumbass Shep just kept blasting into the camera, “WHAT’S IT MATTER, SENATOR, SHE’S ALREADY DEAD? THE GIRL’S DEAD!!! BLAHHHHH!!!! WHAT’S IT MATTER?? SHE WAS MURDERED AND HER BODY DUMPED LIKE A PIECE OF TRASH???? WHAT’S IT MATTER, SENATOR??? BLAHHHHHH!!!!!”

    It was like watching a five year old try to shut down someone he doesn’t agree with by talking over them.

  17. Eoin says:

    Here we go… Bill Hagar v Shep Smith. The logic of the law is quite simple: create a criminal charge in the case of murdering parents who are let off by an inept prosecutor that will actually stick. Shep I guess wasn’t smart enough to understand the intent of the proposed law.

  18. lao says:

    Gee AC, you are starting to sound like an O.W.S. supporter.

    My Advice To The Occupy Wall Street Protestors

    Hit bankers where it hurts
    (No that’s not a violent threat.)

    1. Break Up The Monopolies
    2. Pay For Your Own Bailouts
    3. No Public Money For Private Lobbying
    4. Tax Hedge Fund Gamblers
    5. Change The Way Bankers Get Paid

  19. AC says:

    Not wanting my tax dollars to be used to backstop private gambling is now left wing?

    I’m not in agreement with Taibbi.

    1. The monopolies should not be ordered broken up by courts or bureaucrats, but face withdrawal of sanction from the FDIC, allowing market forces to determine how it will be split into an acceptable size.

    2. Ok.

    3. No public money for anything.

    4. Why? Hedge funds are gambling with their money. If the lose, a bunch of rich people have a crappy year. The problem is with publicly insured banks gambling with a public guarantee. Anti hedge fund class warfare is not good for the economy. Taibbi’s agenda here is soaking the rich.

    5. Government has no business deciding how private bankers get paid. Any argument about compensation at bailed out banks is misguided, because there should be no bailouts in the first place.

  20. Bloodless Coup says:

    From World Net Daily…

    Obama adviser urges ‘militancy’ in nationwide Occupy protests
    Boardmember of groups that crafted laws for health care, ‘stimulus’ says ‘we’ve got to start a resistance movement’

    Read more: Obama adviser urges ‘militancy’ in nationwide Occupy protests

  21. Bloodless Coup says:

    Breaking News!

    Taitz v Fuddy: Hawaii Circuit Court Reschedules Obama Birth Certificate Hearing For November 30, 2011 @ 10:00 AM

    Petition for Writ of Mandamus. Request for Inspection of Records under UIPA. Emergency Motion for Rehearing. Motion to Stay Final Order Pending Rehearing.

    Read More Here

  22. MrBlonde says:

    I saw some stories a few weeks ago saying that Fox was going to start leaning more toward the center of the spectrum. I was hoping that they were going to fire Shlep, Jerry Rivers and that Beckel jackass, but they went further left instead.

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