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Thread: Senator Seeks to Break Up Banks ‘Too Big to Fail’

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    Senator Seeks to Break Up Banks ‘Too Big to Fail’

    Mr. Sanders’s legislation would give Treasury Secretary Timothy F. Geithner 90 days to compile a list of commercial banks, investment banks, hedge funds and insurance companies that he deems too big to fail or “any entity that has grown so large that its failure would have a catastrophic effect on the stability of either the financial system or the United States economy without substantial government assistance.”

    Within one year after the legislation became law, the Treasury Department would be required to break up those banks, insurance companies and other financial institutions identified by the secretary.
    Link HERE

    I don't completely disagree with this.
    I would amend it to be any company not just commercial banks, investment banks, hedge funds, and insurance companies, that has received bailout money and can't pay back every cents in 90 days gets scuttled over a year.
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    Re: Senator Seeks to Break Up Banks ‘Too Big to Fail’

    Good old fashion trust busting eh? It will certainly be interesting to see how far this goes.
    Jackboots always come in matched pairs, a left boot and a right boot.

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    Re: Senator Seeks to Break Up Banks ‘Too Big to Fail’

    Should have been done along time ago. Preferably years before Dr. Barack Obama, M.D. (Money Doctorate) decided to declare financial war against Ford.
    "I do not underestimate the ability of fanatical groups of terrorists to kill and destroy, but they do not threaten the life of the nation. Whether we would survive Hitler hung in the balance, but there is no doubt that we shall survive al-Qa'ida." -- Lord Hoffmann

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    Re: Senator Seeks to Break Up Banks ‘Too Big to Fail’

    Quote Originally Posted by chevydriver1123 View Post
    Good old fashion trust busting eh? It will certainly be interesting to see how far this goes.
    Nowhere is my guess
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    Re: Senator Seeks to Break Up Banks ‘Too Big to Fail’

    Quote Originally Posted by Arch Enemy View Post
    Should have been done along time ago. Preferably years before Dr. Barack Obama, M.D. (Money Doctorate) decided to declare financial war against Ford.
    Elaborate please.
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