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Thread: Bernie Sanders To Introduce Bill To Break Up The Big Banks

  1. #11
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    Re: Bernie Sanders To Introduce Bill To Break Up The Big Banks

    Quote Originally Posted by Fenton View Post
    He's such a unmitigated moron.

    Honestly, he wants to push American " forward " but there's nothing " forward " about his iniatives.

    If he had his way whats left of the economy would be driven into the ground once and for all.

    Bernie attack the 2 Financial entities that were the most corrupt agencies involved in the Subprime mortgage crisis and stop with the talking points.
    "Unimaginative"? Maybe the 55th ACA repeal will get it!

    But anyways anything of substance to why the bill should not be passed?


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    Re: Bernie Sanders To Introduce Bill To Break Up The Big Banks

    Quote Originally Posted by Anomalism View Post
    Bernie Sanders To Introduce Bill To Break Up The Big Banks

    WASHINGTON, May 5 (Reuters) - Bernie Sanders, a self-described socialist U.S. senator who has launched a bid for the 2016 Democratic presidential nomination, said on Tuesday he will introduce a bill to break up the biggest banks, a position far to the left of the party's front runner, Hillary Clinton. Calls for Wall Street's largest firms to be cut down were numerous after taxpayers spent billions of dollars to prevent the financial system from collapse during the 2007-09 financial crisis, but they have since gradually died down.

    Sanders faces long odds against Clinton's fund-raising might, and his views might help position the former secretary of state and first lady more as a moderate and buttress her efforts to attract money from banks' deep pockets. Under the Sanders proposal, regulators on the existing Financial Stability Oversight Council would compile a list of institutions that are 'too big to fail' and implicitly rely on government support during a crisis. "If an institution is too big to fail, it is too big to exist," Sanders said in a statement.

    Within a year of enactment of the bill, the Treasury secretary would be required to break up these firms. They would also be prohibited from using any customer funds for risky or speculative activities on financial markets. Sanders, an independent from Vermont, launched his long-shot bid last week, highlighting his fight against authorizing the Iraq war, which Clinton voted to authorize as a senator, and putting pressure on her political agenda from the left.

    Sanders is not alone in his view that large banks still pose an undue risk to the economy after causing the worst economic crisis since the Great Depression. Senator Elizabeth Warren, a highly visible Democrat from Massachusetts, also wants to break up big banks. Among regulators, Tom Hoenig, second-in-command at the powerful Federal Deposit Insurance Corporation, wants the same thing. Still, the bill stands a near-zero chance of becoming law. Representative Brad Sherman, a Democrat from California, also backed the bill, but it has no Republican support. Republicans hold the majority in both houses of Congress. President Barack Obama is also opposed to making any changes to the 2010 Dodd-Frank law aimed at reforming Wall Street.
    Awesome, but does he know that that kind of **** can get you killed?
    Killing one person is murder, killing 100,000 is foreign policy

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    Re: Bernie Sanders To Introduce Bill To Break Up The Big Banks

    Quote Originally Posted by Fenton View Post
    He's such a unmitigated moron.

    Honestly, he wants to push American " forward " but there's nothing " forward " about his iniatives.

    If he had his way whats left of the economy would be driven into the ground once and for all.

    Bernie attack the 2 Financial entities that were the most corrupt agencies involved in the Subprime mortgage crisis and stop with the talking points.
    Oh, there's that irony again.
    jallman: "It's all good. At least you have a thick skin and can take being poked fun back at without crying. "

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    Re: Bernie Sanders To Introduce Bill To Break Up The Big Banks

    Quote Originally Posted by Anomalism View Post
    Bernie Sanders To Introduce Bill To Break Up The Big Banks

    WASHINGTON, May 5 (Reuters) - Bernie Sanders, a self-described socialist U.S. senator who has launched a bid for the 2016 Democratic presidential nomination, said on Tuesday he will introduce a bill to break up the biggest banks, a position far to the left of the party's front runner, Hillary Clinton. Calls for Wall Street's largest firms to be cut down were numerous after taxpayers spent billions of dollars to prevent the financial system from collapse during the 2007-09 financial crisis, but they have since gradually died down.

    Sanders faces long odds against Clinton's fund-raising might, and his views might help position the former secretary of state and first lady more as a moderate and buttress her efforts to attract money from banks' deep pockets. Under the Sanders proposal, regulators on the existing Financial Stability Oversight Council would compile a list of institutions that are 'too big to fail' and implicitly rely on government support during a crisis. "If an institution is too big to fail, it is too big to exist," Sanders said in a statement.

    Within a year of enactment of the bill, the Treasury secretary would be required to break up these firms. They would also be prohibited from using any customer funds for risky or speculative activities on financial markets. Sanders, an independent from Vermont, launched his long-shot bid last week, highlighting his fight against authorizing the Iraq war, which Clinton voted to authorize as a senator, and putting pressure on her political agenda from the left.

    Sanders is not alone in his view that large banks still pose an undue risk to the economy after causing the worst economic crisis since the Great Depression. Senator Elizabeth Warren, a highly visible Democrat from Massachusetts, also wants to break up big banks. Among regulators, Tom Hoenig, second-in-command at the powerful Federal Deposit Insurance Corporation, wants the same thing. Still, the bill stands a near-zero chance of becoming law. Representative Brad Sherman, a Democrat from California, also backed the bill, but it has no Republican support. Republicans hold the majority in both houses of Congress. President Barack Obama is also opposed to making any changes to the 2010 Dodd-Frank law aimed at reforming Wall Street.
    The chamber of commerce scum unfortunately will say no.
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    Sporadic insanity normal.


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    Re: Bernie Sanders To Introduce Bill To Break Up The Big Banks

    Quote Originally Posted by catswiththumbs View Post
    Bernie Sanders about as relevant as Atari.
    Personally I'd rather vote for him than any of the other democratic candidates.

    If only because he IS so far from the mainstream.

    Since I think the mainstream is where most of the problems arise, in politics.

    Edit: Whenever I look at politics I seem to get this feeling that we need to disrupt things in order to get actual leaders in.


    Edit: And additionally, I think we shouldn't have bailed out anyone. But I'm not economic expert, so that's mainly based on my opinion that if you **** up that badly you don't deserve to be.
    Education.

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    Re: Bernie Sanders To Introduce Bill To Break Up The Big Banks

    Quote Originally Posted by Summerwind View Post
    Certainly it would seem that EW would crush her, but EW ain't runnin' so it's a stupid point for the discussion. So long as Hillary stays left and doesn't cruise right, she'll likely be fine. However, she could screw up. Right now she's in a very good position and it's not just because she's a Democrat. Those that really really want an EW will likely be rooting for Sanders.
    She will crash and burn - it is in her nature. The campaign will waste hundreds of millions of dollars.
    Well said: That was laid on with a trowel ~ W. Shakespeare, The Merchant of Venice.

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    Re: Bernie Sanders To Introduce Bill To Break Up The Big Banks

    Quote Originally Posted by catswiththumbs View Post
    She will crash and burn - it is in her nature. The campaign will waste hundreds of millions of dollars.
    It must be nice to be so sure of something so unlikely. It is possible, just highly doubtful.
    jallman: "It's all good. At least you have a thick skin and can take being poked fun back at without crying. "

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    Re: Bernie Sanders To Introduce Bill To Break Up The Big Banks

    Quote Originally Posted by Summerwind View Post
    It must be nice to be so sure of something so unlikely. It is possible, just highly doubtful.
    History usually repeats itself and she is too old to change.
    Well said: That was laid on with a trowel ~ W. Shakespeare, The Merchant of Venice.

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    Re: Bernie Sanders To Introduce Bill To Break Up The Big Banks

    Quote Originally Posted by catswiththumbs View Post
    History usually repeats itself and she is too old to change.
    Then you ain't payin' attention, she is already changing how she's campaigning as well as her planks.
    jallman: "It's all good. At least you have a thick skin and can take being poked fun back at without crying. "

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    Re: Bernie Sanders To Introduce Bill To Break Up The Big Banks

    Bernie Sanders would have my vote. Though too bad my state doesn't participate in the primaries.

    He's a one of a kind politician, one of the few who doesn't feel the need to tell lies. Maybe the only one.

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