• #14
    One of the most disappointing failures of the Obama admin has been that NOT ONE banker responsible for the 08 collapse is serving time. Pitiful.
  • #54
    Republicans are filthy cheating liars and crooks. If you really think they changed their ways and will break up big banks, you are probably ok with a level 3 sex offender watching your kids because he swears he has changed.
  • #2
    If I recall, the Big Banks were about to break themselves up in 2008 by going bankrupt... how about if we let just them go out of business the next time they invest like morons?
  • #8
    There's only one private bank that needs to be broken up. The Federal Reserve Bank, Woody Wilson's most lasting FU to America. That would eliminate private bankings ability to practice fractional reserve banking and attain all these assets. Ron Paul introduced that legislation like 5 times, and I know Rand Paul has proposed it once already.
  • #10
    @jmiller94 Apparently the feeling about Ron Paul is that he's "kooky". So his legislation, regardless how much sense it makes, takes a back seat.
  • #13
    @jmiller94 Yeah, that would take care of Fannie and Freddie too. They should have been paved over 30 years ago.
  • #15
    @Fishbone345 he is kind of kooky, that's why I didn't support him for president, but he's got an amazing understanding of the monetary system in the US and what's wrong with it. Rand is a bit less kooky, so far, and seems to be continuing his father's fight to end the American government-sponsored banking cartel.
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  • #16
    This country should never have gotten to the point where these big banks were able to blackmail the country into bailing them out by saying - "we'll cause a great depression if you don't bail us out". These banks should be broken up like AT&T (remember what long distance used to cost?) and the crooks who nearly cratered the economy should be prosecuted. This is one area where Obama has failed miserably. He should have thrown these criminals in jail and used the RICO statutes to keep them there and take away their wealth.
  • #47
    I can't believe I am actually agreeing with you on this issue. The breakup of AT&T is a prime example of how free enterprise is allowed to compete...once someone gets too big, there is really no hope for the little guy...not to mention there are some Senators which should have been cast into jail...
  • #7
    You know where they really got their money? It's from people that max credit cards, mortgage there homes several times over and drive cars they can't afford. Deficient spending. The haven't stolen the nations money we gave it to them. They gladly took your gift. If we lived within our means, and saved/invested a portion of their income they wouldn't have all the money.
  • #57
    Very little of the profits made by big banks comes from lending. The profits come from using FDIC backing to leverage themselves up to their necks in risky deals that really have no risk because of FDIC backing. They're gambling with the house's (ie, taxpayers) money.
  • #32
    Monopolies must be broken up, in banking, agriculture, tech, etc., That is an integral part of Capitalizm, to prevent the monopolization of power and influence, otherwise it always leads to that. Just like Socialism is flawed, and leads to the same thing. The crooked and rich always get richer, no matter what system. There must be proper oversight to ensure a free market.
  • #37
    Here here! The people need to use goods and services from the private sector, it is up to the govt to make sure they are not screwing over the people, and it's the people's job to make sure the govt doesn't screw over the private sector.

    But what do we have? A private sector that screws over the people for money, a govt who refuses to do anything about it as they screw over the people for money, and a large voting bloc who believes that the status quo of both is hunky dory and label it 'capitalism'. Then if you question any of it you hate America.
  • #41
    It's not anti-capitalism, any more than a regulated utility is.

    The truth is, capitalism is a force that needs controlling, and regulation is how we do it.

    As my old Grandpappy used to say," Capitalism is like fire, it makes a useful servant but a terrible master."

    I just can't get it out of my memory how the Republicans spent the last thirty years telling us that banks should be deregulated.

    What changed their minds? Or have they?

    Somehow I'm very very very sceptical of this new epiphany.
  • #60
    As much as republicans have been saying this for decades, it was clinton who signed the repeal of Glass-Steagull that led to this mess. That law needs to be re-instated.
  • #19
    The republicans are going to break up the big banks and reregulate them? Right after pigs fly. It takes a special brand of stupid to believe they are ever going to do that. Stand by for candidate flip flops on this one.
  • #52
    Absolutely. Think AT&T anti-trust lawsuit win and implementation, January 1, 1984. THAT is what we need to inspire competition and economic growth.
  • #43
    I think it's a good idea though if Obama had suggested it, the cries of communism from the right would have been deafening.
  • #40
    I'm a free-market supporter, but in this case, it's not a free-market as these big banks have colluded with the government to use taxpayer dollars to become bigger. They have bastardized the free-market with the government as their instrument. I have no issues with them being paired back a bit to their pre-bailout statuses. I also feel that their complexity is too difficult for laws to be enforced until damage has been done.
  • #6
    Part of the "crash" that led to the Great Depression was the absence of "Big Banks" and the FDIC.

    Small banks are only as secure as their investors.

    Break up the "Big Banks" at your own risk.
  • #9
    But Neo, is it truly 'success' when we the taxpayers are forced to bail them out to the tune of $Billions, only to have them reward themselves with hundreds of $Millions in bonuses- for failing? People lost their life savings while these execs were being handed insane bonuses- with OUR money.
  • #11
    @GuyFawkes They successfully kept their business despite bad decisions, by successfully taking the American People.
    We've been took! Bamboozled! Hoodwinked!
  • #45
    Your lack of any sophisticated analysis and knowledge of the financial industry is terrifying . Why don't you take five minutes and educate just a little bit and stop making such absolutely dumb statements.

    Bank they're not profitable wake up!!, You as and every tax pay are subsidizing them and they're literally laughing all the way to their wallets.

    Not one major bank is trading at a multiple of their stated asset value.. Their balance sheets are base over stated value of their assets, their loan portfolio.

    That not success that's fraud! In simple terms their annual reports say we are worth X amount of dollars. Wall Street says, you're full of it!! We investors will only pay a % the total value of their shares most like Wells Fargo and Chase 0.65X They've overvalued their loan portfolios and no one will call them on it again because no one want another crisis and everyone is just hoping that things don't slow down and more of these loans become non performing. Watch a show 60 Mins did on the cities built in China with tens of thousands of apts where no one lives in the entire city complete with shopping centers. all vacant and funded by??? guess who?

    Look at what those bastions of liberal thinking Fox and WSJ have to say

    Wake up before you really have reason to be sad
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  • #65
    If the Republicans really change and I mean really change. If they run Rand Paul in 2016, if they promise to break up the banks, repeal the PATRIOT act, close GITMO, end domestic spying, and allow the Chagossians to return home I may consider voting Republican. In spite of my support for single payer, in spite of my support for stopping global warming, in spite of my support of the right to choose I may still vote Republican on those issues alone if the Republican Party can convince me it has turned around.
    It better be pretty damn convincing after this Bush nonsense!
  • #64
    "Breaking up" banks is anti-free market. What needs to be done is to eliminate legislation (such as bailouts!) that favor big banks, thus allowing smaller banks to compete on a level playing field.
  • #50
    If we end government subsidies and bailouts then there should be no need to forcefully break up anything. Natural market forces would dictate the fate of these banks.
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