'Exactly What I Was Worried About': Warren Warns New Big Bank Merger Will Increase Risk of Another Crash
Just looking at the headline quote: “We can’t let banks become too big to fail again.”
Oops, WE ALREADY DID.
If that’s what it takes to wake the American public up then bring it on.
Meltdown would be a great opportunity, but who’s poised to take it? Progressives? “The Left”?
The biggest banks are FAR LARGER TODAY, as a percentage of the economy, than they were leading up to the 2008 meltdown:
Can we please stop calling it a “crash” as if it is some kind of accidental or unplanned natural event.
It is a wealth transfer from the many to the few, deliberate and planned.
When done on a smaller scale it is called theft.
From 1776 until the 1929 crash these events were called “panics” that occurred at least once each decade for the express purpose of transferring wealth to the 1%. FDR’s New Deal financial industry regulations prevented panics, crashes, etc. from 1930-1987 at which time financial industry decriminalization (corporations, their media and politicians call it deregulation) had advanced and the Democratic Leadership Council (DLC) formed in 1985 gave a green light for Wall Street to loot the US Treasury. Acceleration of decriminalization during Bill Clinton’s watch set the stage for the dot com bust and 2008 bust that the experts say “nobody could see coming”.
Anybody who is paying attention has seen and sees these events coming and identifies the players who benefit from these wealth transfer schemes disguised as accidents.
The Forbes article Webwalk linked to is five years old so the 44% stat is history. By the end of 2018 the five biggest banks controlled nearly 60% of US Bank assets with no end of their march to monopoly in sight.
DSA came out everyday for the teachers’ strike in LA, and now we are preparing to do the same for the strike in Oakland.
What do you do Tom, beside piss out dumb, cheap cynical drivel?
And how are you different from the Trumpers, who need to feel to somebody every day?
Where was Warren when the Clinton’s and that gang (Republicans) destroyed Glass-Steagall. Want to be truthful here.
The “too big to fail” banks themselves are the next financial bubble.
Look up their collective exposure to derivatives to see what i mean.
No doubt whatsoever, that those unable to see, strongly believe the economic system is operating as necessity requires.
No doubt as well, even according to standard, orthodox economics, you know, the economics used to justify impoverishing millions, that money continues to move from those who do not have enough to those who have way too much.
The Federal Reserve is corrupted and weaponizes this assault. Bandages don’t stop wounds from happening.
Check Carmen Segarra’s, Noncompliant.
Those in the ivory tower do not have to wake up ever!
The CEOs who never even went to trail need to go straight to jail
Warren was not even close to being in office.
Where is the switch to turn off monopolies and break them up?
This is anti-trust – but someone put the monopoly question to sleep a long time ago.
Dems have a lot to do – there’s a lot to be restored – especially if we succeed in taking
over the Senate. That’s at least something to hope for – and something optimistic to
Glass-Steagall – Fairness in Broadcasting –