DAVOS: Bank Of America Is Not Too Big, Says CEO

Discussion in 'Economy' started by Neubarth, Jan 29, 2010.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    DAVOS: Bank Of America Is Not Too Big, Says CEO
    Wall Street Journal - ‎3 hours ago‎
    Bank of America (BAC) Chief Executive Officer Brian Moynihan said Friday that the bank wasn't too big, and that forcing the divestment of trading activities in big banks wouldn't prevent financial crises.
    ^^^^^^^^^^^^^^^^^^^^^^^^^

    Yes, it is, says I.

    Big Banks have been manipulating the stock market for almost ten years now. Some like Goldman Sachs make Hundreds of Billions off of that manipulation. It is time for the Federal Government to tell the banks that they can not day trade (minute by minute and second by second trading) stocks with computer programs that can move the market up or down as Goldman Sachs can.

    There should be some rule that banks can only buy stocks for the long term like Warren Buffett does.
     
    Last edited: Jan 29, 2010

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