Banks that were too big to fail are getting even bigger!

[futurebeachbum]

And the underlying system is still broken.

That's what this article on Bloomberg says.

From the article:

Joseph Stiglitz, the Nobel Prize- winning economist, said the U.S. has failed to fix the underlying problems of its banking system after the credit crunch and the collapse of Lehman Brothers Holdings Inc.

?In the U.S. and many other countries, the too-big-to-fail banks have become even bigger,? Stiglitz said in an interview today in Paris. ?The problems are worse than they were in 2007 before the crisis.?
...
Stiglitz said the U.S. government is wary of challenging the financial industry because it is politically difficult, and that he hopes the Group of 20 leaders will cajole the U.S. into tougher action.

​

Makes me look back fondly on the days when even intercounty banks were illegal in Georgia.

 

[30ashopper]

What do people expect when businesses that should fail get propped up by the federal government? BofA alone swallowed up Countrywide and Merrill Lynch, one failed bank buying two other failed banks with money "borrowed" from the taxpayer.

 

[kkddbb]

it was inevitable folks. its your government and our media that dont know and dont care to tell you

 

[mikecat adjuster]

The banking industry and the federal reserve are some pretty big boys. Someone pointed out to me, mind you I haven't done any research since being told, but that the two Presidents that wanted to do something about the Federal Reserve were Abraham Lincoln and John F. Kennedy.

I know Ron Paul has been very vocal in his opposition to the Federal Reserve and has sponsered legislation in certain matters regarding it. Not many people want to touch the Federal Reserve, though. Kind of a hands off thing.

Ron Paul got his support from grass roots efforts, too. I don't think he got any from the big boys. I guess he wouldn't have made it through his term either.

 

[kkddbb]

the banking industry and the federal reserve are some pretty big boys. Someone pointed out to me, mind you i haven't done any research since being told, but that the two presidents that wanted to do something about the federal reserve were abraham lincoln and john f. Kennedy.

I know ron paul has been very vocal in his opposition to the federal reserve and has sponsered legislation in certain matters regarding it. Not many people want to touch the federal reserve, though. Kind of a hands off thing.

Ron paul got his support from grass roots efforts, too. I don't think he got any from the big boys. I guess he wouldn't have made it through his term either.

interesting. I think ill look into that. Could be interesting to see what those two fellas thought about the fed reserve. Loved ron paul, but something in me thought that his head would rise and start spinning at anytime. He's a bit strange, but he's absolutely right on what he preaches. I just dont think most americans take him seriously, unfortunately.

 

[LuciferSam]

The banking industry and the federal reserve are some pretty big boys. Someone pointed out to me, mind you I haven't done any research since being told, but that the two Presidents that wanted to do something about the Federal Reserve were Abraham Lincoln and John F. Kennedy.

I know Ron Paul has been very vocal in his opposition to the Federal Reserve and has sponsered legislation in certain matters regarding it. Not many people want to touch the Federal Reserve, though. Kind of a hands off thing.

Ron Paul got his support from grass roots efforts, too. I don't think he got any from the big boys. I guess he wouldn't have made it through his term either.

The Federal Reserve system wasn't established until 1913.

 

[poppy]

The Federal Reserve system wasn't established until 1913.

Not fast Lucifer, kkddbb is going to look into it and no matter the facts he/she just may let you know what Lincoln thought about the Federal Reserve.

 

[kkddbb]

Not fast Lucifer, kkddbb is going to look into it and no matter the facts he/she just may let you know what Lincoln thought about the Federal Reserve.

instead of providing any info of your own, its easier to smear others. typical liberal im sure glad i grew up.

unlike you, i will be looking into this this evening for my own knowledge. all while your watching john stewart and olby for your education.

 

[poppy]

instead of providing any info of your own, its easier to smear others. typical liberal im sure glad i grew up.

unlike you, i will be looking into this this evening for my own knowledge. all while your watching john stewart and olby for your education.

Here I'll help you,

The Federal Reserve was created on December 23, 1913.

Abraham Lincoln was born Feb. 12, 1809 and died April 14, 1865.

The theory is Lincoln printed his own money which pissed the bankers off so they killed him and Kennedy who wanted to shut down the Federal Reserve.

End of story.

 

[30ashopper]

Centralized banking was met with much opposition from politicians, who were suspicious of a central bank and who charged that Aldrich was biased due to his close ties to wealthy bankers such as J.P. Morgan and his daughter's marriage to John D. Rockefeller, Jr. Aldrich fought for a private bank with little government influence, but conceded that the government should be represented on the Board of Directors. Most Republicans favored the Aldrich Plan, but it lacked enough support in the bipartisan Congress to pass because rural and western states viewed it as favoring the "eastern establishment". Progressive Democrats instead favored a reserve system owned and operated by the government and out of control of the "money trust," ending Wall Street's control of the American currency supply. Conservative Democrats fought for a privately owned, yet decentralized, reserve system, which would still be free of Wall Street's control. The Federal Reserve Act passed Congress in late 1913 on a mostly partisan basis, with most all Democrats in support and most Republicans against it. The plan that was adopted as the Federal Reserve Act had similarities to the Aldrich plan, but the balance of public and private control was modified.

Sound familiar?

[ame=http://en.wikipedia.org/wiki/Federal_Reserve]Federal Reserve System - Wikipedia, the free encyclopedia[/ame]