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

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

    Quote Originally Posted by Montecresto View Post
    We went thru this already, pretty much what the New Deal was about (in part) which restricted and regulated predatory banking that at least in part led to the depression. Worked well several decades, grew the biggest strongest middle class that the modern world at least had ever known. But 30 years of Reaganomics are reversing that. This is what Sanders wants to address.
    Exactly!

    We are a consumer driven economy - not a top-down charity organization.

    Hiring is stimulated by consumer demand, not corporate benevolence. How prevalent are the examples of corporations hiring employees they don't need, or keeping unnecessary employees on during economic downturns? Giving more money to the wealthy to stimulate hiring is one of the greatest fallacies fostered on the uninitiated.

    If 'trickle down economics' worked, after thirty years of it we would be awash in jobs! (We're not)
    Last edited by Chomsky; 05-06-15 at 11:33 AM. Reason: punctuation
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    Re: Bernie Sanders To Introduce Bill To Break Up The Big Banks

    That's the thing I don't get. We've had 30 years of Reaganomics and after 30 years it has been nothing but an absolute failure. We tried it, it failed, let's go back to what was working. I don't know why the American people are so beholding to feeding the wealthy top 1% as much wealth as possible in the hopes that maybe some of it will trickle down. Also here's what I don't get...

    The name itself is indicative of it's failure to work. "TRICKLE DOWN". Not cascade, not waterfall, not avalanche. "Trickle down". Jeez and to think this policy has been in effect for over 30 years.
    Trump Attacked A Syrian Airfield. Trump will be a one-term president.

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

    Quote Originally Posted by Chomsky View Post
    With all due respect, the topic is not 'Bernie Sanders', but his attempt to end the 'too big to fail free ride syndrome'. I'm willing to acknowledge that even candidates I don't like occasional have an idea that has merit.

    You're point about TARP being paid-back is reasonably accurate, but those funds came out of the tax-payer's funds, which I believe I can euphemistically refer to as 'my pocket-book' without occurring too much discrepancy.

    But the big-picture you're missing is free-markets cannot exist without regulation - monopoly or oligarchy are NOT free markets. Neither are bail-outs with the people's money - that my friend is corporate socialism.

    And the current American dualistic economic system of 'corporate socialized losses with 'free-market profits' is exactly what Mr. Sanders is attempting to rectify!

    Are we free-market? Or socialist? Which is it?

    I'll weigh-in for free-markets in a well-regulated economic system.
    Right now we're in a process of subsidizing losses and privatizing profits when it comes to corporations. That's the worst thing ever. You'd think conservatives and Dems both would be opposed to this system but in fact the politicos and the people like it just fine. It's really shocking.
    Trump Attacked A Syrian Airfield. Trump will be a one-term president.

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

    Quote Originally Posted by Montecresto View Post
    Reasonable people want fair market capitalism, like free trade, free capitalism migrates towards benefitting fewer and fewer, more and more. Fair trade, fair capitalism. Both require regulation and monitoring.
    Nonsense, " reasonable " people have no idea what they're taking about.

    Its not " reasonable " to give a Government or a President who opposes the Free market on principle the power to be the arbiter of " fairness ".

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

    Quote Originally Posted by DaveFagan View Post
    I think Sanders is attempting to take some of the POWER away from these huge banking monopolies that the US gave the Treasure to. Banks as lenders are influencing which Nations the USA manipulates to survive so that they can make their bank payments to their USA banking opportunists "privatizing" National patrimonies. The USA and huge Banking CORPORATIONS colluding to control Nations. Gosh, who'd a thunk it? "Too big to fail?" Screw 'em all. Pull the plug. Make sure the Nations that owe big debts to USA Banks survive to protect those bank payments. There have been no principles in recent gov't moves by the USA, at least, not since Vietnam.
    you are misusing the term "monopolies"... it doesn't apply here.

    it might sound good and get the fellow travelers all wet in the britches... but it genuinely does not apply.

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

    Quote Originally Posted by reinoe View Post
    Right now we're in a process of subsidizing losses and privatizing profits when it comes to corporations. That's the worst thing ever. You'd think conservatives and Dems both would be opposed to this system but in fact the politicos and the people like it just fine. It's really shocking.
    You are absolutely correct! (as I pointed out in my post re: 'socialized losses & free-market profits')

    But it's far worse.

    Due to big-money's control of congress (and perhaps the presidency), we are at best becoming a plutocratic oligarchy, and at worst sliding into (oligarchic) fascism!
    "When fascism comes to America, it will be wrapped in the flag and carrying a cross." - Sinclair Lewis

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

    Quote Originally Posted by Thrilla View Post
    you are misusing the term "monopolies"... it doesn't apply here. [...]
    Perhaps not true monopolies in strict technical terms, but how can they not be monopolistic if they are 'too big to fail'?
    "When fascism comes to America, it will be wrapped in the flag and carrying a cross." - Sinclair Lewis

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

    Quote Originally Posted by Chomsky View Post
    Perhaps not true monopolies in strict technical terms, but how can they not be monopolistic if they are 'too big to fail'?
    the very defintion of the word disqualifies it from use.

    there is nothign inherently wrong or bad about " too big to fail" firms... though it would be reasonable to enact a regualtory scheme that would curb certain risk taking that could lead to a crisis.

    in other words, too big to fail is fine... but ya can't allow the big boys to play with matches around gasoline.
    little guys can take big risks... the big guys need to act more prudently due to thier station. ( this is almost entirely a principal-agent problem, and as such, dificult to remedy under current law.. though not impossible.)

    the only tricky matter is in enforcement and accountibility... right now, we're barely surpassing an "honor system".... we need to wrap our heads around the idea that "too big to fail" does NOT mean "too big to hold acountable".

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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 understands that an economy cannot function properly with all of the wealth and power concentrated at the top. He understands that when the people on the bottom are making more money it stimulates the economy. He understands that breaking up monopolies and creating competition is how you make the market healthier. He understands capitalism better than his Republican counterparts.

    Lol ! An " avowed Socialist understands Capitalism " ??

    Bernie Sanders doesn't understand anything but devidive leftist talking points and false narratives on disparity.

    He opposes Capitalism on principle and has no CLUE of what drives a free market economy.

    If he did he wouldn't be pushing these same destructive " solutions " that have led to Trillions of dollars in wealth stagnating instead of being invested in our economy.

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

    In my view, the size of the banks is not that relevant. In Canada, somewhere between 80% and 90% of all banking business is controlled by the "big five" banks. What's relevant is the oversight given them and the regulations controlling them. Canada's banks and banking system is seen as among if not the most stable in the world and each easily survived and prospered through the 2007/2008 world financial crisis and were a major reason why Canada and its economy did so well during and coming out of the financial crisis.

    Regulation and oversight of a country's banking system is, to me, a primary function of government and one of the prime reasons for having government.
    A Canadian conservative is one who believes in limited government and that the government should stay out of our wallets and out of our bedrooms.

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