Articles Note the Banks did not complete the 2 Big 2 Fail Plan

Oct 2013
23,665
19,957
USA
#1
It is an oddity of primaries that the writers question if this helps Bernie but only in this sense...

Obama's addition of the Volker plan into Dodd-Frank is what is at play. It is Obama's plan that is succeeding. The large banks have worked at a plan for the last 4 years. The feds gave 5 of those banks requests to fix certain areas of their plan and gave them an additional 6 months to finalize it. Big thank you goes out to Obama. It is near completion.

In debates Hillary explained her position as strengthening the Volker rule even more as a rolled out existing program within Dodd-Frank. It amounted to building on Obama's existing plan with more stringent rules. In a worse case scenario with any given bank it allows her to break up an abusing bank if necessary for actual abuses. Bernie gave that as an example of how easy she is on Wall Street. He wants more...

In debates Bernie wanted all large banks broken up just for being big and not for wrongdoing. The issue with that is no Congress will do that for those banks who play by the rules. Bernie has twice submitted 2 big 2 fail to Congress that have never even made it to the floor for vote. Neither a democrat or a republican Congress is likely to punish non-guilty entities. In a recent interview asking him how he could possibly do that he meandered in loose fashion ending up saying he would try to do it as President through the Dodd-Frank program. You know...Hillary's plan that was panned.

So if you like irony as I do I hope you enjoy this article statement:

"Can Clinton show fire on Wall Street?

The news cycle gave Mr. Sanders a big gift on Wednesday, with the revelation that five big banks had failed to develop plans for dismantling themselves in the event of a financial crisis. It is a story that plays directly into Mr. Sanders’s area of political confidence, and that is an easy cue for him to brandish his core message on the debate stage.

Mrs. Clinton responded assertively to the news, urging regulators to take on the banks more aggressively. It will be essential for her to project that message with real force in the debate, especially in the almost-certain event that Mr. Sanders once again challenges her friendly relationship with the financial sector."


I need me some popcorn. Tonight is going to ironic in every sense of the word.

What to Look For in the Democratic Debate
 

Crusher

Former Staff
Aug 2011
28,346
9,232
Heaven Above
#2
These banks should have absolutely been allowed to fail for many reasons.

(1) As a lesson to the rest of the banking industry. Don't do shady shit, because if you do your gone.
(2) Regional Banks that did not participate in these shady practices could have been allowed to grow and take on bigger roles. Let the successful actually succeed. Instead we have rewarded failure through government picking winners. That is not Capitalism. That is not Free Market. That is pure Authoritarianism / Socialism.
(3) It will encourage those that raped the financial industry for hundreds of billions to repeat the crime.

These banks are set up to lock in cronies. To stop small businesses from competing. It's not what America is supposed to be about. It is certainly one of the areas where the TEA Party and the Liberals of OWS completely align.
 
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