Dallas Fed Prez calls for the immeadiate break up of TBTF banks
 

Wow, I agree, and when you are done with the banks, break up the Fed.

http://www.businessinsider.com/dalla...#ixzz1plgWWQ7l

That's interesting, thanks!

"their combined assets equate to half of our nation’s GDP"

And that's scary :(

Pete

Thats what I thought as well. Very scary.

Remember your history and what happened when Jackson killed the central bank.

Good read. Scary stuff indeed.

Why don't you post the story in the "History" forum? Refresh our memories.

Dave

Then again, with strong, effective regulation, it wouldn't be a problem. Our big 5 banks own even a bigger percentage of the market than yours do, but we didn't lose any of them in the meltdown.

And they are so much friendlier to deal with than here. RBC deposite a check of mine in the wrong account. When so informed they quickly found the error put the funds in my account along with an extra $100 as an apology.

Recently Amex lost one of my checks and advised me to put a stop payment on it. They credited my Amex card with $40 for the stop payment, RBC only charged me $10.:p

They operate down here as well, The TD in TD Ameritrade stands for Toronto Dominion.

“Capital must protect itself in every possible way, both by combination and legislation. Debts must be collected, mortgages foreclosed as rapidly as possible. When, through the process of law, the common people lose their homes, they will become more docile and more easily governed through the strong arm of government applied by a central power of wealth under leading financiers. These truths are well known among our principal men who are now engaged in forming an imperialism to govern the world. By dividing the voter through the political party system, we can get them to expend their energies in fighting for questions of no importance. It is thus by discreet action we can secure for ourselves that which has been so well planned and so successfully accomplished.”
— Montagu Norman, Governor of The Bank Of England

addressing the United States Bankers' Association, NYC 1924

Guess that's one way to skin the cat.

Chas

Really? So allowing financial decline to occur places the well-heeled in a position to exploit the plight of the masses? (LET IT FAIL!:rolleyes:) Couple this with the constant barrage of silly diversionary tactics, such as "Rescuing American Families" or "Preserving Marriage" for instance, and you have the recipe for establishing unhindered top down rule?

I wholeheartedly agree.

The Corporatocracy never did like having to answer to anyone. Still doesn't.

Dave

Yes I know what happened. Inflation skyrocketed, Federal debt had to be paid with actual gold or silver, and this country was plunged into a very long depression. If I am not mistaken Madison and Gallitin created the 2nd central bank to make it easier to pay for the war of 1812.

Jackson vetoed the five year charter Congress voted for claiming the bank was corrupt and was influencing elections.

We need a central banking system. The Fed is a loose cannon right now. The little bits of information Bernie Sanders and others was able to get out of the Fed showed that in addition to the nearly 1 trillion TARP bailout the Fed gave banks an additional, and the numbers are all over the place, 2 to 14 trillion dollars. I tend to believe the former and not Ron Paul's wild assertions of 14 trillion with 5 trillion going to bail out foreign banks. The point is we don't know what the Fed does with our money.

One of the original followers of Ayn Rand was none other than Allen Greenspan. How many years did he head up the Fed...nineteen? Don't take my word for it read his words.

http://www.noblesoul.com/orc/bio/turbulence.html

The damage Greenspan did to this country in that nearly twenty years may never be undone. He even admitted it when testifying before Congress, but our traditional media is to stupid to pick up on it and run with it.

It is time for complete oversight of the Fed by Congress. The only problem is the Capitol building is a permanent circus tent with clowns dressed in their $110,000 Alexander Amosu suits doing their act,"lets fuck the poor, the middle class, and the elderly". Read the Ryan budget plan if you don't believe me. /rant

So, making the open ended commitment of giving the "job creaters" whatever they want, ostensibly to keep them from screwing us out of what we have left, is cause for concern in your mind?

I tend to think that these people believe they are entitled to unlimited wealth and the rest of us are entitled to----nothing. And, that if we fail to keep our guard up, "nothing" is precisely what we will end up with.

Dave

It was Greenspan, Rubin and Geithner who sabotaged Brooksley Born when she tried to have derivatives regulated. Had they listened to her we might have averted the crash.

I can't disagree.

You know, rereading that, I think it's a backhand at the Congressional Dems.

Pete

Pete they have all been bought, Dems and GOPs, why do you think that the top 1% walked off with 93% of the income last year. Don't spend you share of the 7% all in one store.

Big business got organized and they pay to have articles written and published spreading their propaganda. They shower $$$ on the pols - because getting elected anymore takes big $$$. When the unions were strong they volunteered at getting out the vote but now that they have been decimated voter participation is down.

If money is speech whose voice do you think is heard - yours, mine or the Koch brothers?

I think this pay for fail is almost as good as those trying to bring down the USA for personal gain with derivitives and such..



Carl