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Thread: Elizabeth Warren: 'Too Big To Fail' Is Worse Than Before Financial Crisis

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    Elizabeth Warren: 'Too Big To Fail' Is Worse Than Before Financial Crisis

    WASHINGTON -- Sen. Elizabeth Warren (D-Mass.) warned in a speech Tuesday that the problem of banks considered "too big to fail" has only gotten worse since the 2008 financial crisis, potentially sowing the seeds of a future crisis.
    "Today, the four biggest banks are 30 percent larger than they were five years ago. And the five largest banks now hold more than half of the total banking assets in the country," Warren said in a keynote address at a conference on the future of financial reform put on by the Roosevelt Institute, a think tank. "Who would have thought five years ago, after we witnessed firsthand the dangers of an overly concentrated financial system, that the 'too big to fail' problem would only have gotten worse?"

    Warren urged the passage of a new Glass-Steagall Act that would separate commercial and investment banking. The Depression-era legislation was repealed in 1999 with huge bipartisan majorities, allowing depository institutions to undertake riskier securities trading. Warren, along with Sens. John McCain (R-Ariz.) and Maria Cantwell (D-Wash.) have called to revive the legislation, but it stands little chance of passing.



    Read more @: Elizabeth Warren: 'Too Big To Fail' Is Worse Than Before Financial Crisis

    This is an outrage. We went the total wrong direction on this. Instead of ending this too big to fail ****, its gotten worse! We need to bring back Glass Stegal.


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    Re: Elizabeth Warren: 'Too Big To Fail' Is Worse Than Before Financial Crisis

    Quote Originally Posted by TheDemSocialist View Post
    Read more @: Elizabeth Warren: 'Too Big To Fail' Is Worse Than Before Financial Crisis

    This is an outrage. We went the total wrong direction on this. Instead of ending this too big to fail ****, its gotten worse! We need to bring back Glass Stegal. [/FONT][/COLOR]
    No, we learned you can create TRILLIONS out of thin air, give it to billionaires (so you don't deprive them of their personal fortunes) and use the magic money to heal all wounds.

    Welcome to the NEW New World Order.

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    Re: Elizabeth Warren: 'Too Big To Fail' Is Worse Than Before Financial Crisis

    We should have punished the companies that damaged the economy instead of giving them more gifts and more power. The people who ran them should be in jail. The pilfered money should have been returned to the people it was stolen from. The companies should have been either dissolved or turned over from their corrupt owners down the chain within the company, or liquidated and distributed among the employees.

    Hurting the country, especially on such a large scale, for one's own gain... that should be punished. Severely.
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    Re: Elizabeth Warren: 'Too Big To Fail' Is Worse Than Before Financial Crisis

    I find it very sad that people think that not having the Glass-Steagall Act is actually a problem. If you don't want banks to be too big to fail you might want to review laws that went down in the early 20th century and after.

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    Re: Elizabeth Warren: 'Too Big To Fail' Is Worse Than Before Financial Crisis

    Quote Originally Posted by TheDemSocialist View Post
    Read more @: Elizabeth Warren: 'Too Big To Fail' Is Worse Than Before Financial Crisis

    This is an outrage. We went the total wrong direction on this. Instead of ending this too big to fail ****, its gotten worse! We need to bring back Glass Stegal. [/FONT][/COLOR]
    The Dems won't even bring back Glass-Stegal. If they did, the government couldn't force the banks to give a bus driver an eight-hundred-thousand dollar home loan.

    I believe, ny friend, that you will always be disappointex as long you expect the government to fix a problem.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Elizabeth Warren: 'Too Big To Fail' Is Worse Than Before Financial Crisis

    Quote Originally Posted by apdst View Post
    The Dems won't even bring back Glass-Stegal. If they did, the government couldn't force the banks to give a bus driver an eight-hundred-thousand dollar home loan.

    I believe, ny friend, that you will always be disappointex as long you expect the government to fix a problem.
    Well you see the ones calling for Glass-Stegal to come back are the dems..... So your whole post makes no sense.


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    Re: Elizabeth Warren: 'Too Big To Fail' Is Worse Than Before Financial Crisis

    Quote Originally Posted by Paschendale View Post
    We should have punished the companies that damaged the economy instead of giving them more gifts and more power. The people who ran them should be in jail. The pilfered money should have been returned to the people it was stolen from. The companies should have been either dissolved or turned over from their corrupt owners down the chain within the company, or liquidated and distributed among the employees.

    Hurting the country, especially on such a large scale, for one's own gain... that should be punished. Severely.
    You can't punish people for obeying the law.

    If you want to punish someone for harming the country, you can start with the politicians that pressured these banks ti make all those worthless loans.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Elizabeth Warren: 'Too Big To Fail' Is Worse Than Before Financial Crisis

    Quote Originally Posted by TheDemSocialist View Post
    Well you see the ones calling for Glass-Stegal to come back are the dems..... So your whole post makes no sense.
    The Dems has total control. Why didn't they do it?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Elizabeth Warren: 'Too Big To Fail' Is Worse Than Before Financial Crisis

    Quote Originally Posted by apdst View Post
    The Dems has total control. Why didn't they do it?
    Yea they have total control...
    I think you might of forgot about one chamber of congress...


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    Re: Elizabeth Warren: 'Too Big To Fail' Is Worse Than Before Financial Crisis

    Quote Originally Posted by TheDemSocialist View Post
    Yea they have total control...
    I think you might of forgot about one chamber of congress...
    I think he meant had.
    I have CDO, it's like OCD but the letters are in alphabetical order like they should be.

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