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.
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- 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.
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 -
"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;-)
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.
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.
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!
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.
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.
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.
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.
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.
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
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.
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