We should all agree with this!

[Wry Catcher]

Warren, McCain: Rein in 'too big to fail' banks - CNN.com

"The big Wall Street banks continue to hum along as they did before the crisis -- too big to fail and, in many cases, potentially exposing the economy to the risk of systemic failure"

..."five years after the crash, the big banks are more concentrated and more interconnected and their appetite for excessively risky behavior is unchanged. The biggest banks are substantially bigger than they were in 2008. In fact, the five biggest banks now control more than half the nation's total banking assets."

"That's why we co-sponsored the 21st Century Glass-Steagall Act. The Act, which we first introduced a year ago last week, would separate traditional banks that offer checking and savings accounts from riskier financial services, such as investment banking and swaps dealing."

See link for full article. Poll to follow.

 

[Mad Scientist]

I'd probably be more optimistic if McClown and Fauxcahontas' names weren't on it.

http://www.warren.senate.gov/files/documents/21stCenturyGlassSteagall.pdf

If repealing Glass-Steagall did all that damage then why not just re-instate it? Why a new and different Bill?

 

[Mad Scientist]

John Corzine wasn't prosecuted. The Fed wasn't audited. It's easy to introduce a Bill you KNOW won't get passed.

 

[Wry Catcher]

Anyone with an open mind and a clear head willing to vote and comment?

 

[Wry Catcher]

Apparently not.

 

[Shanty]

It's true that Glass-Steagall needs to be reinstated and updated for the 21st Century. Regulation has to be extended to more than just banks, but to other lenders and Wall Street. But that requires hiring and paying regulators for banking and SECand other regulatory agencies.

 

[Rshermr]

Anyone with an open mind and a clear head willing to vote and comment?

I voted yes. It worked for years, would work again. But the repubs will stop it as they have the numbers. And they want the banksters to get rich, since they are well paid by them. Simply another money in politics issue IMHO.

 

[TakeAStepBack]

More than five years after the bankruptcy of Lehman Brothers and the beginning of the most severe economic downturn since the Great Depression, lawmakers should ask themselves whether they have done enough to reduce the risk of another financial crisis. In our view, the answer is no.

We definitely need more intervention to try and stem of some of the disasters created by intervention.

Meanwhile, the federal reserve goes untouched, as if it isn't the real systemic problem the country has financially.

 

[Shanty]

More than five years after the bankruptcy of Lehman Brothers and the beginning of the most severe economic downturn since the Great Depression, lawmakers should ask themselves whether they have done enough to reduce the risk of another financial crisis. In our view, the answer is no.

We definitely need more intervention to try and stem of some of the disasters created by intervention.

Meanwhile, the federal reserve goes untouched, as if it isn't the real systemic problem the country has financially.

The Federal Reseve isn't the problem, in and of itself.

It can be misused, as Reagan and Greenspan proved. But overall, it's been able to keep much of our economy stable.

 

[TakeAStepBack]

More than five years after the bankruptcy of Lehman Brothers and the beginning of the most severe economic downturn since the Great Depression, lawmakers should ask themselves whether they have done enough to reduce the risk of another financial crisis. In our view, the answer is no.

We definitely need more intervention to try and stem of some of the disasters created by intervention.

Meanwhile, the federal reserve goes untouched, as if it isn't the real systemic problem the country has financially.

The Federal Reseve isn't the problem, in and of itself.

It can be misused, as Reagan and Greenspan proved. But overall, it's been able to keep much of our economy stable.

What a laugh. You've lost more than 96% of your purchasing power in 100 years under the feds watch. That mean inflation, a "targeted" inflation. Central planning is a terrible idea that destroys the wealth of individuals and nations alike.

 

[Wry Catcher]

It's true that Glass-Steagall needs to be reinstated and updated for the 21st Century. Regulation has to be extended to more than just banks, but to other lenders and Wall Street. But that requires hiring and paying regulators for banking and SECand other regulatory agencies.

Seems to me the taxpayer will get his and her money's worth if another collapse saves them from bailing out the miscreants. If they're not too big to fail, let them fail. Hold the Board of Directors and officers of the corporation, both civilly and criminally complicit. If fines and restitution put them in the poor house, justice will have been served.

 

[CrusaderFrank]

Let's keep having the Federal Government guarantee mortgages and businesses, because that's been so awesome

 

[Wry Catcher]

More than five years after the bankruptcy of Lehman Brothers and the beginning of the most severe economic downturn since the Great Depression, lawmakers should ask themselves whether they have done enough to reduce the risk of another financial crisis. In our view, the answer is no.

We definitely need more intervention to try and stem of some of the disasters created by intervention.

Meanwhile, the federal reserve goes untouched, as if it isn't the real systemic problem the country has financially.

If the FED is a problem, it's possible for it to be fixed; however, the Fed is not criminally culpable as those the Federal government bailed out last time.

 

[EdwardBaiamonte]

It's true that Glass-Steagall needs to be reinstated and updated for the 21st Century. Regulation has to be extended to more than just banks, but to other lenders and Wall Street. But that requires hiring and paying regulators for banking and SECand other regulatory agencies.

absolutely, and we can get tons of ex soviet or VA regulators!! It will be like magic. We'll have good regulation and no more problems!! And to be safe we can have regulators to regulate the regulators.

A liberal will simply lack the IQ to know that capitalism provides the most rigorous regulations. In fact capitalist consumers bankrupt 10,000 companies a month!

 

[CrusaderFrank]

Our economy is just not regulated enough!

 

[Wry Catcher]

It's true that Glass-Steagall needs to be reinstated and updated for the 21st Century. Regulation has to be extended to more than just banks, but to other lenders and Wall Street. But that requires hiring and paying regulators for banking and SECand other regulatory agencies.

absolutely, and we can get tons of ex soviet or VA regulators!! It will be like magic. We'll have good regulation and no more problems!! And to be safe we can have regulators to regulate the regulators.

A liberal will simply lack the IQ to know that capitalism provides the most rigorous regulations. In fact capitalist consumers bankrupt 10,000 companies a month!

Fuck you and the other asshole who thanked you for your partisan Idiot-Gram.

 

[EdwardBaiamonte]

It's true that Glass-Steagall needs to be reinstated and updated for the 21st Century. Regulation has to be extended to more than just banks, but to other lenders and Wall Street. But that requires hiring and paying regulators for banking and SECand other regulatory agencies.

absolutely, and we can get tons of ex soviet or VA regulators!! It will be like magic. We'll have good regulation and no more problems!! And to be safe we can have regulators to regulate the regulators.

A liberal will simply lack the IQ to know that capitalism provides the most rigorous regulations. In fact capitalist consumers bankrupt 10,000 companies a month!

Fuck you and the other asshole who thanked you for your partisan Idiot-Gram.

If you can say why you disagree please try to.

 

[Rshermr]

absolutely, and we can get tons of ex soviet or VA regulators!! It will be like magic. We'll have good regulation and no more problems!! And to be safe we can have regulators to regulate the regulators.

A liberal will simply lack the IQ to know that capitalism provides the most rigorous regulations. In fact capitalist consumers bankrupt 10,000 companies a month!

Fuck you and the other asshole who thanked you for your partisan Idiot-Gram.

If you can say why you disagree please try to.

It's just that ed loves what the bat shit crazy con web site tells him. And recessions are just fine with him. As long as the banksters are left alone to make lots of money, and screw up the economy.
But it is really not his fault. Ed is a CONGENITAL idiot. He inherited his idiocy fair and square. So, it is really not his fault. Just plain bad luck.

 

[EdwardBaiamonte]

Fuck you and the other asshole who thanked you for your partisan Idiot-Gram.

If you can say why you disagree please try to.

It's just that ed loves what the bat shit crazy con web site tells him. And recessions are just fine with him. As long as the banksters are left alone to make lots of money, and screw up the economy.
But it is really not his fault. Ed is a CONGENITAL idiot. He inherited his idiocy fair and square. So, it is really not his fault. Just plain bad luck.

argumentum adhominem from typical liberal without IQ for substance

 

[jwoodie]

All of this seems predicated on the belief that "corporations" only become "greedy" when the Republicans are in power. How pathetically simplistic and naive.