Bernie Sanders (I): "Break 'em up"

[editec]

As long as the government backs up deposits in the banks, those banks ought to be regulated to prevent them taking the kinds of risks they took.

Banks that want to play the high risk games ought not to be so backed up by FDIC.

I don't think the deposit insurance system has much to do with it. It never covered the large "hot money" deposits. What REALLY was the bailout was the use of the FDIC to guarantee bank holding company debt and other measures forced on the FDIC by Treasury and the Fed in 2008--2010. The trillions of these bailout guarantees were at least four times the amount of insured deposits in the country's banking system. Anybody read Shiela Bair's book?

Oh I think that FDIC played it role in the meltdown.

When the market first began to understand the degree to which the banks had screwed up, there was a rush on the banks that so alarmed the Treasury and FED that they immediately increased FDIC to $250,000 per account to assure depositors that their money was still safe.

But you ARE correct that the Treasury and FED went FAR FAR FAR beyond THAT, by also guaranteeing the effected banks that they would assume the responsibility for the TOXIC ASSETS they ALL HAD on their books.

The actual amount those guarantees were covering depends of estimates because there was no mark to market way of determining just how TOXIC those "assets" really were.

I have read estimates from reputable economists ranging from the Fed's estimate of $4 TRILLION to estimates as high as $21 Trillion.

Why such a vast range?

Because nobody knew (still don't know, I think) just how low those TOXIC "assets" could have gone down IF they'd GONE TO MARKET FOR EVALUATION!

CITIZENS? What part of the narrative that we very nearly had a complete MELTDOWN OF THE WORLD'S ECONOMIC SYSTEM do you as yet not understand?

 

[Oddball]

...the banks that is. This has gone on long enough these mega-for-profit corps raping the taxpayer when ever their ponzi schemes fail

New Sanders Bill Would Break Up Big Banks | Common Dreams

Betcha a dollar to a dog turd that old socialist crank Bernie isn't in favor of breaking up the biggest banks of them all: The Federal Reserve, IMF, World Bank and Bank for International Settlements.

And YOU would be completely wrong.

Why?


Because apparently you are a faith based thinker who is unwilling to READ anything that might confuse you with real FACTS

Senator Bernie Sanders at his official website reports:
The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. "As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."

Here, EDUCATE YOURSELF

Nobody is giving the FEDERAL RESERVE SCAM a harder time than Bernie.

Google

Auditing the Fed is not the same thing as breaking it up, abolishing it, and returning banking to the hands of the marketplace.

Bernie Sanderski is to central banking what neocon windbags like Newt Gingrich are to the welfare state: They don't want to eliminate these failures, they merely believe that they are the ones best equipped to manage the central planner scams.

 

[editec]

Oddball, you truly are guessing.

Educate yourself, dude.

 

[Oddball]

I'm guessing nothing.

The last thing on the planet that a socialist central planner goober like Bernie Sanders wants, is to return to a redeemable currency and credit in the hands of lenders completely detached from central banksters.

 

[Dot Com]

Betcha a dollar to a dog turd that old socialist crank Bernie isn't in favor of breaking up the biggest banks of them all: The Federal Reserve, IMF, World Bank and Bank for International Settlements.

And YOU would be completely wrong.

Why?


Because apparently you are a faith based thinker who is unwilling to READ anything that might confuse you with real FACTS

Senator Bernie Sanders at his official website reports:
The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. "As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."

Here, EDUCATE YOURSELF

Nobody is giving the FEDERAL RESERVE SCAM a harder time than Bernie.

Google

Auditing the Fed is not the same thing as breaking it up, abolishing it, and returning banking to the hands of the marketplace.

Bernie Sanderski is to central banking what neocon windbags like Newt Gingrich are to the welfare state: They don't want to eliminate these failures, they merely believe that they are the ones best equipped to manage the central planner scams.

link? Thats what I thought Don't you claim to be a libertarian or is that someone else?

 

[Dot Com]

Oddball, you truly are guessing.

Educate yourself, dude.

ask him what his nickname here is Word on the boards is he used to be a "Bush man" during 43's regime.

 

[EdwardBaiamonte]

I'm guessing nothing.

The last thing on the planet that a socialist central planner goober like Bernie Sanders wants, is to return to a redeemable currency and credit in the hands of lenders completely detached from central banksters.

You are so right!!Sanders has said many times he wants the Fed to ignore the inflation mandate and concentrate on unemployment. Thats means he wants easy money and lots of inflation, which is what liberals have always wanted throughout American History! Remember William Jennings Bryan. He was an sworn enemy of the gold standard becuase it meant he could not inflate the currency as he saw fit!!

 

[Oddball]

And YOU would be completely wrong.

Why?


Because apparently you are a faith based thinker who is unwilling to READ anything that might confuse you with real FACTS




Here, EDUCATE YOURSELF

Nobody is giving the FEDERAL RESERVE SCAM a harder time than Bernie.

Google

Auditing the Fed is not the same thing as breaking it up, abolishing it, and returning banking to the hands of the marketplace.

Bernie Sanderski is to central banking what neocon windbags like Newt Gingrich are to the welfare state: They don't want to eliminate these failures, they merely believe that they are the ones best equipped to manage the central planner scams.

link? Thats what I thought Don't you claim to be a libertarian or is that someone else?

I know socialists....One of the linchpins of their ideology is a central bank with an exclusive monopoly on currency production.....Though it is an utter blight upon the American economic landscape, the Fed is still a privately held banking cartel.

Bernie the Socialist would like that situation remedied by making the Fed a 100% property of the federal gubmint...That's how socialism works, Gumby.

 

[Billo_Really]

Bernie Sanders is right on the money.

We need to break these fuckers up!

 

[EdwardBaiamonte]

the Fed is still a privately held banking cartel.

it seems its mostly held by Bernanke who is a mild manored college professor intellecual type, not an evil cartel. Sadly he does not seem to have much faith in the free market. I think mostly he feels his hands are tied by a liberal Congress and president.

 

[Dot Com]

Auditing the Fed is not the same thing as breaking it up, abolishing it, and returning banking to the hands of the marketplace.

Bernie Sanderski is to central banking what neocon windbags like Newt Gingrich are to the welfare state: They don't want to eliminate these failures, they merely believe that they are the ones best equipped to manage the central planner scams.

link? Thats what I thought Don't you claim to be a libertarian or is that someone else?

I know socialists....One of the linchpins of their ideology is a central bank with an exclusive monopoly on currency production.....Though it is an utter blight upon the American economic landscape, the Fed is still a privately held banking cartel.

Bernie the Socialist would like that situation remedied by making the Fed a 100% property of the federal gubmint...That's how socialism works, Gumby.

you didn't answer the question Sport. Do you claim to now be a libertarian even though you were a Bush man when he was in office?

 

[EdwardBaiamonte]

link? Thats what I thought Don't you claim to be a libertarian or is that someone else?

I know socialists....One of the linchpins of their ideology is a central bank with an exclusive monopoly on currency production.....Though it is an utter blight upon the American economic landscape, the Fed is still a privately held banking cartel.

Bernie the Socialist would like that situation remedied by making the Fed a 100% property of the federal gubmint...That's how socialism works, Gumby.

you didn't answer the question Sport. Do you claim to now be a libertarian even though you were a Bush man when he was in office?

Bush tried to privatize health care education and Social Security and cut taxes. He was always foiled by liberals but had he succeeded he might have gone down in history as a serious Republican libertarian.

 

[Dot Com]

Bush oversaw the creation of one of the largest, big brother, bureaucracies the world has ever known- dhs & I suspect Oddball prolly voted for him once if not 2X

 

[Oddball]

link? Thats what I thought Don't you claim to be a libertarian or is that someone else?

I know socialists....One of the linchpins of their ideology is a central bank with an exclusive monopoly on currency production.....Though it is an utter blight upon the American economic landscape, the Fed is still a privately held banking cartel.

Bernie the Socialist would like that situation remedied by making the Fed a 100% property of the federal gubmint...That's how socialism works, Gumby.

you didn't answer the question Sport. Do you claim to now be a libertarian even though you were a Bush man when he was in office?

Chimpola wasn't "my man"....Ever.

So suck on that.

 

[EdwardBaiamonte]

Bush oversaw the creation of one of the largest, big brother, bureaucracies the world has ever known- dhs & I suspect Oddball prolly voted for him once if not 2X

So?????? Bush was not a libertarian Republican or a Jeffersonian Republican or a Newt Republican or a Reagan Republican.

 

[Dot Com]

[ame="http://www.youtube.com/watch?v=-TnXLLs81Rg"]http://www.youtube.com/watch?v=-TnXLLs81Rg[/ame]

 

[EdwardBaiamonte]

How banksters scapegoat granny after stealing your money - YouTube

typical liberal is now afraid to speak for himself!! As if we all can't post a million links to support what we say!!

This is for debate not for posting links!! Sorry

 

[KevinWestern]

I know socialists....One of the linchpins of their ideology is a central bank with an exclusive monopoly on currency production.....Though it is an utter blight upon the American economic landscape, the Fed is still a privately held banking cartel.

Bernie the Socialist would like that situation remedied by making the Fed a 100% property of the federal gubmint...That's how socialism works, Gumby.

you didn't answer the question Sport. Do you claim to now be a libertarian even though you were a Bush man when he was in office?

Bush tried to privatize health care education and Social Security and cut taxes. He was always foiled by liberals but had he succeeded he might have gone down in history as a serious Republican libertarian.

Bush did cut taxes and at the same time started a $3 trillion dollar war. Now I'm all for less money to gov't waste but sometimes you have to use your brain.

Bad president, period. We can thank him for the gigantic government spy machine too (how's that for small gov't?).

 

[Oddball]

Bush oversaw the creation of one of the largest, big brother, bureaucracies the world has ever known- dhs & I suspect Oddball prolly voted for him once if not 2X

You'd lose that bet, Gumby.

Machael Badnarik in 2000 and Bob Barr in 2004.

 

[Oddball]

Bernie Sanders is right on the money.

We need to break these fuckers up!

Except, as I already pointed out, he certainly wouldn't be against breaking up the Fed (would more than likely be in favor of nationalizing it and making it part of the Treasury Department), nor the World Bank, Bank for International Settlements or the IMF.

Bernie is a socialist...He'd prolly be at the head of the line in favor of a global currency and one world bank.