tigerred59
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- Mar 17, 2015
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Congress Does Wall Street A Favor As Banks Post Record Profits
Lawmakers have passed a bill to roll back regulations adopted after the 2008 financial crisis.
The bill approved Tuesday would change the definition of what constitutes the biggest banks, freeing banks with up to $250 billion in assets from these tougher rules. Huge regional players like BB&T and SunTrust would be exempted, as would foreign conglomerates with trillions of dollars in global assets ― like Deutsche Bank, Credit Suisse and UBS ― that keep less than $250 billion of their assets in the United States.
If anyone hasn't noticed, already banks are issuing easy credit at record levels, fly by night mortgage companies are eagerly persuing the bad credit candidates and local small banks are disappearing again at record levels......(sigh)...the truly sadness in all this, next time, there's not gonna be an Obama or a Dodd-Frank to save the American stupid and their desire for the outsider's input to pull them out.
Lawmakers have passed a bill to roll back regulations adopted after the 2008 financial crisis.
The bill approved Tuesday would change the definition of what constitutes the biggest banks, freeing banks with up to $250 billion in assets from these tougher rules. Huge regional players like BB&T and SunTrust would be exempted, as would foreign conglomerates with trillions of dollars in global assets ― like Deutsche Bank, Credit Suisse and UBS ― that keep less than $250 billion of their assets in the United States.
If anyone hasn't noticed, already banks are issuing easy credit at record levels, fly by night mortgage companies are eagerly persuing the bad credit candidates and local small banks are disappearing again at record levels......(sigh)...the truly sadness in all this, next time, there's not gonna be an Obama or a Dodd-Frank to save the American stupid and their desire for the outsider's input to pull them out.
