Sunday, January 16, 2011

Same old Same old with TBTF banks

 The too Big to Fail Banks are getting Bigger and Bigger of course. There is no will within the government to put a stop to big bank domination. It is a dominance that is in the form of monopoly except there are several TBTF banks that are in charge of the money system in the United States.

More from WSJ
  • The top five U.S. commercial and investment banks — Bank of America, J.P. Morgan Chase, Citigroup, Wells Fargo and Goldman Sachs — have emerged from the financial crisis larger than ever. As of the third quarter of 2010, they had a total of $8.6 trillion in assets, according to data provider Capital IQ. That’s 13.3% of all U.S. financial firms’ assets, up from 11.8% three years earlier, when the financial crisis hit.
We have done nothing to change the dominance of the large banks since the recession/depression brought the economy to it knees.  It is hard to tell if all of the government is as criminal as the Wall Street and the Banks or if they are afraid to lose campaign money, or if they are not bright enough to realize how the banks fleeced the Country.  There have been a few changes at the top of the banks, such as Wells Fargo and Bank of America, but I think those were more for protection of the CEO.  They needed to get out of Dodge and buy time so they could claim a faltering memory or lack of knowledge from something happened so long ago.  It wasn't because of any punishment or action by the SEC or Washington D.C. 

  • WSJ:  Size can be good, allowing banks to compete globally and provide services to customers at the lowest possible cost. But it also gives the top banks a lot of political influence. That could be a problem at a time when new financial-reform legislation has given U.S. regulators more leeway than ever in reshaping the rules by which the banks operate.

The banks have those in Congress and the White House wrapped around their fingers and know they are running the country.  The politicians won't stand up for the people or the country because they already took such a beat down when they caved on TARP.  The banks are the pimps and Congress are the hookers afraid to say boo.  Indirectly we are all being pimped out by the banks who are taking tax dollars to cover their losses and giving away massive pay checks and dividends.  I

Nothing has changed.  The public has had a chance to vent but it doesn't it doesn't matter the banks are left standing bigger, taller and stronger than before eve after ruining the hopes and dreams of millions of Americans. 

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