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Breaking up the Banks with Robert Reich

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Too big to fail? We all know that term was a misnomer when applied to big banks. Robert Reich explains why it's so important to break up the biggest banks, which have grown exponentially over the past few years. This idea of breaking up the banks isn't new, and is supported by Federal Reserve Governor Dan Tarullo, Former Citigroup CEO Sanford Weil, Rep. Jeb Hensarling, Senator Sherrod Brown, and Sen. Elizabeth Warren. It's clear we can't afford another TARP bailout. https://twitter.com/RBReich http://robertreich.org/ Support The Point for FREE by doing your Amazon shopping through this link (bookmark it!) http://www.amazon.com/?tag=townsquaretyt-20
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Text Comments (40)
Jonathan Jensen (2 years ago)
2016 Presidential candidate Bernie Sanders is serious about Breaking Up The Corrupt Big Banks!
C Daug. (4 years ago)
"Economics 101" Culture in Decline
therehegothatsJONDOE (2 years ago)
+Cash Daugherty "you must not understand economics" i love those idiots
OptimalOwl (5 years ago)
- and honest banking and fiscal responsibility, or about the unfairness of government picking winners, then you wouldn't be pushing for more regulation. You'd be pushing for sweeping free market reforms and the end of central banking. It's this "fix it with another regulation"-nonsense that keeps the problem getting worse. Every generation does it, achieves the exact opposite of the intended result, and end up leaving their kids in an even deeper mess. Stop the game. Make room for real banks.
OptimalOwl (5 years ago)
So wait. You can look at the whole game of compulsorily insured, quasi-private administrators, portioning out the continuous stream of freshly printed dollars according to predetermined proportions, and being allowed to ask for more money when they somehow fail even at that... And what you want to do is to slightly adjust the outcome, to let a few more administrators participate? If you cared the least bit about actual banking, as opposed to this fiat credit shell game, or about conservative -
If "racist" means "understanding differences in race & ethnicity", where's the contradiction? Most "thoughtful fellows" do.
WingIT Productions (5 years ago)
"impression" being the key word. my comment refers to youtube vid: Explosive Video Reich, Obamas economic advisor no "White Male Construction Workers" My other beef w/ Reich is he is a "Keynesian". I support more Laissez-faire economics. Less chance of govt. picking winners and losers. AKA the middle-class. He is too Soviet for my tastes;-)
Mikail Zavalet (5 years ago)
Robert Reich is a racist? He has never given me that impression. In fact, he seems like a rather thoughtful fellow.
Todd Kelly (5 years ago)
I know just wish more people had ideas...I've become jaded lately reading too much complaining
waltermh111 (5 years ago)
Not everybody knows this. Just because its not for you doesnt mean that its not for anybody. He helps people to understand, and 2 things can possibly happen. Voters see this and possibly vote different, or vote more informed at least. Idea people see things a little different and come up with ideas. He doesnt just talk on TYT, its just one more outlet for him to get his thoughts out.
waltermh111 (5 years ago)
Its called anti-trust law. I dont think I will get the wording right, but I am sure you can get the gist of it, after a level of worth is passed, or a percent of the economy is hit by a bank, it will be split up.
WingIT Productions (5 years ago)
HOLY SHIT!!! I agree w/ this racist terd-stick??? Strange bedfellows indeed.
jesus jones (5 years ago)
Why can't we just put our own promissory notes into the banks? By law they have to take it!!
ChocoboKillerKanyo (5 years ago)
I'm not a policy expert or anything, but I don't quite get how a "size cap" on banks would even work.
ralphinator2 (5 years ago)
Wow, I would never have guessed that North Dakota was communist.
John Meyer (5 years ago)
Sorry Rob. I like the idea but you're smoking something good if you think ythis will happen with this Congress.
Todd Kelly (5 years ago)
We all know this Robert but how do you propose we do this...why does nobody ever have a plan when they cry for change.
ecwaufisxtreme (5 years ago)
Nobody can break up the big banks except for President Sarah Palin! She will break them up and EXPOSE the CIRCUMCISED PUSSIES of all the corrupt bankers! She will also DESTROY the FED just like Jesus destroyed the Temple. She will save of our economy with Palinomics!
jimbus9 (5 years ago)
This guy does a good job of 'dumbing down' explanations and commentary on financial reform so it's pretty easy to understand while still making sure you know the important aspects. TYT should try to get him on on a Friday or something.
N89J00X (5 years ago)
But if some republicans, the Fed, and bank executives are for it there must be a catch -- a goody in there for the banks.
mars Cubed (5 years ago)
in UK half of the richest 1%. about .5% of the population.. are "financial services", ie, bank & insurance sales; "independent advisers", often in local banks selling high yield bonds (other people's mortgage debt). they have been skimming off huge bonuses from people's savings & selling on.. it is only a part of the iceberg, but gives some indication of how conservative scams work. greed hype, market rants & theft used to trash pay.. so ppl need to borrow.. spiral into fail.
GodlessHillbilly (5 years ago)
This is obviously too much over your head to discuss this. It is called complacency. Once one comes to the age of reasoning there is NO such thing as innocence. I take it you never graduated college or took philosophy 101.
Ryan McLafferty (5 years ago)
i love this man
T.A.S. (5 years ago)
Just as guilty.... how so? I have no say in the greed of banks and corporations. I also didn't vote for a single one of the politicians who's greed was exploited by them to enable their greed to run rampant. I have, however, been a part of many government protests. So while your laziness may make you just as guilty.... I most certainly am not. As for being better than anyone.... when did i claim that? Even if i was better we would STILL be here.... because one man alone can't change the country.
GodlessHillbilly (5 years ago)
If it happened and we did nothing we are just as guilty. You are not any better than anyone else or we would not be here.
americancheeze1 (5 years ago)
Support your local Credit Union. They give better service, have better rates, and are not big banks.
breaks0 (5 years ago)
the costs it currently runs companies, unions, the govt and consumers and would probably save the economy thereby alot of money by producing a healthier, more productive workforce. That helps employers, the IRS and workers themselves. Nationalizing the banks is no more difficult than nationalizing any other industry, namely not very tough at all.
breaks0 (5 years ago)
Sorry but who bailed them out in the 1st place? And the auto companies and a whole slew of other corporations under this President and historically going back at least to FDR! It's actually cheaper, more efficient, would provide a more reliable revenue stream to the govt and have a whole host of other benefits. Just make them public utilities, how hard is that? None at all. And if you want a comparable example, single payer would guarantee universal coverage, save the economy at least 1/3 of
T.A.S. (5 years ago)
Riiiight.... because the government has done GREAT the money we already give them. There is no one crooked in the government and they always do what's right for us. So why not just put them in charge of ALL of our money? There's NO WAY that could backfire.
T.A.S. (5 years ago)
Not we.... just the greedy douchbags on top (in the banks, corporations, and government).
breaks0 (5 years ago)
Breaking them up won't work, nationalizing them will. Get on w/it aldamnready!
dangerouslytalented (5 years ago)
not only too big to fail, too big to jail. The fuckers are going to get away with it. BTW, does Reich have his own channel?
GodlessHillbilly (5 years ago)
Sadly we are in too deep. A full collapse is all that will reset this mess. We have really screwed the pooch on all this.
Kyle Richard (5 years ago)
Dam right.
Carl Moore (5 years ago)
no such thing as to big to fell.any thing can happen n it well.
AlphaLemming (5 years ago)
The man has a way of making extremely compelling points.
Non Serviam (5 years ago)
Warren 2016!
MixmanD28 (5 years ago)
This is really good news, and we should move on this asap.
electrickithara (5 years ago)
Right on Robert.
Chill Zo (5 years ago)
Looks like Big Banks are feeling the pressure..... #OWS.

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