Oh no, all of that was fixed after the bailout. A congresscritter said so on the radio.
What we have is Fascism. And "too big to fail" describes an ugly New World Order.
That it is -- if a bank or any other business knows it's considered Too Big to Fail, it knows it can do literally anything -- engage in any practice -- and the taxpayers will bail it out -- again and again and again.
We must abandon Too Big to Fail. Let the chips fall where they may.
If it's Too Big to Fail, it's Too Big to Succeed.
That house of cards has been being built since the inception of the Federal Reserve, the so-called independent government agency.
More specifically, since the states had mandated in the Constitution that the states were to use only gold and silver for legal tender (1.10.1), the Senate should either have killed the Gold Reserve Act bill, or should have led Congress to propose an approprate amendment to the states for issuing paper currency.
The 17th Amendment needs to disappear along with a bunch of corrupt senators.
Could you imagine what things would be like w/o central or government banks. It’s been so long that no one can conceive of such a solution. We always talk of more and better regulations, but where has that got us?
Private banks could still engage in fractional reserve lending under some form of oversight in addition to market forces. Governments would still have a treasury and take in taxes.
The market could devise instruments that would work as currency and subsystem for PMs if necessary.
The only reason to have central banks is to give central bankers control.
The populist solution would be to do what progressive Republican Teddy Roosevelt did: break up big businesses. Fight monopolies, which threaten competition.
He broke up Standard oil, and yet the parts continue to this day as some of the largest businesses in the country and world (Exxon, Chevron, Mobil).
I would like to listen to a Republican candidate describe why we should end the era of “too big to fail” organizations, in several industries, like banking, motor vehicles, oil & energy, retailing, communications & entertainment, Pharmaceuticals etc.
Take note that Comcast recently backed down from their acquisition of Verizon, because they feared regulatory forces might deem the merger a threat to competition.
The obvious solution for conservatives is simple: “If a corporation is ‘too big to fail’, then it is likewise ‘too big to continue’.”
In past, the courts have said that size alone is not a good enough reason to bust up a corporation. This idea must be reassessed. If a corporation is so large that its failure could significantly harm the economy as a whole, then an orderly, methodical means must be legislated to reorder that corporation until it is no longer a threat.
There is no inherent unfairness to this, except for the loss of power of a handful of people on a given corporation’s executive board. And that is no reason to not do this.
much balderdash here
Palaces of ponzicians...debt slavemasters digitizing, printing, and doling out the pieces of cheese for us rats on the treadmills. UNaccountable totalitarians with monopoly money, enticing the unsuspecting, devaluing the responsible.
Too big to fail: The psyops of psychopaths.
The basic depository banking system of the US should be conservative, staid, boring and safe. High risk investments should not in any way be tangled up with our basic banking system. Those who want greater risk and greater possible rewards should have their own investment firms which are totally separate from depository banks.
That is the conservative way in banking, not some anything goes, high risk, regulation free gambling house that endangers our entire financial system and everyone who uses depository banks.
.
Yup!
Whatcha gunna do about it?
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bttt
Dump Obama Now or Face Imminent Global War
On Wednesday, April 29, a group of thirty retired generals and diplomats from the United States, Russia, China, India, Britain, Germany, France, Pakistan, South Korea, and Israel issued a dire warning that the world is in grave danger of thermonuclear extinction. The report, issued by the Global Zero Commission, chaired by former US Vice Chairman of the Joint Chiefs of Staff Gen. James Cartwright, called on the US and Russia to immediately reach an agreement to end the policy of “launch on warning,” under which the world is held hostage to a hair-trigger doctrine of immediate thermonuclear exchanges.
The 100-page report, which was preceded by a New York Times op-ed on April 19, signed by Gen. Cartwright and by Russian General Vladimir Dvorkin, the retired head of intelligence for Russia’s Strategic Rocket Force, echoed warnings that have been made by American statesman Lyndon LaRouche, and others, for the last four years, about the growing danger of thermonuclear extinction.
LaRouche’s unique contribution to the war-avoidance drive is that he has identified the underlying reasons for the growing threat of thermonuclear Armageddon, in the desperation of the British Empire over the doom of its global financial dictatorship, and the emergence of a truly human alternative in the BRICS and New Silk Road initiatives, led by China, Russia and India in concert.
The only problem with the otherwise appropriate call, by the retired generals and diplomats, for a thermonuclear de-escalation, through an end to the short-fuse doctrine of launch on warning, is that it will never happen—so long as Barack Obama remains in office as President. Obama is a witting tool of the very forces that are desperate to eliminate the vast majority of the human race—even if it risks thermonuclear extinction. He is not only a British agent; he is too much of a relic of his mother and her killer antics in Indonesia and other parts of Southeast Asia.
Only by removing Obama from office—on readily available Constitutional grounds—can the world ever be secure.
The same Obama factor is evident in the escalation towards war in Southwest Asia. With the recent days’ purge in Saudi Arabia, the hardcore Al Qaeda faction within the Saudi Royal Family has not only tightened their grip on power. On behalf of their partners in London, they are driving the region towards a perpetual sectarian war, stretching from Yemen all the way to the eastern shores of the Mediterranean in Syria and Lebanon. King Salman has sealed a secret deal with President Erdogan of Turkey to back Al Qaeda forces in an intensified drive to overthrow the Assad government in Damascus.
When Gulf Cooperation Council heads of state come to meet with Obama at Camp David on May 14, Obama is ready to throw his support behind the drive to blow up the entire Southwest Asia, Persian Gulf, Eastern Mediterranean region, by trading off support for the Saudi-led war drive in exchange for nominal support for the P5+1 deal with Iran.
Again, Lyndon LaRouche was way out ahead in warning, right after the Geneva announcement of a P5+1 framework agreement last month, that unless the U.S. really put the screws on Saudi Arabia, the deal would be nothing but a trigger for a big regional war. Obama persists in giving cover to the Saudis, by refusing to release the 28-page chapter from the original Joint Congressional Inquiry into 9/11, a chapter that details the Saudi funding of the Sept. 11, 2001 attacks.
For these crimes—and many, many more—Obama must be removed from office now. Anything less than that immediate action places mankind at risk of extinction. Not only is the President guilty of impeachable crimes against the Constitution. His behavior—risking a thermonuclear Armageddon—qualifies him to be immediately ousted under the 25th Amendment, which provides for the removal of president who is no longer physically or psychologically fit to serve.