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  • Posted by  $  CBJ 4 months, 3 weeks ago
    All the government needs to do is treat banks just like any other private businesses, with no special privileges, and any inefficient big banks will break up on their own.

    Of course this would mean dismantling the Federal Reserve, so an actual breakup of the banking cartel is not likely in the foreseeable future.
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    • Posted by Herb7734 4 months, 3 weeks ago
      As usual, it boils down to the Federal Reserve, doesn't it? When you have a corrupt government, don't expect anything more than corrupt businesses grabbing for more, more,and more, legally or illegally with a wall of lawyers ready, willing and able to fight for their rights to be scoundrels. If the only way to achieve honesty in business is to break up the business, well, as Trump puts it, "sad."
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  • Posted by  $  WilliamShipley 4 months, 3 weeks ago
    We have to get rid of the "too big to fail" mentality. You can't have capitalism when you make a profit and socialism when you lose money. The next time they fall on hard times -- and there are business cycles. Let them sell off assets rather than handing them money. Then they will be broken up.
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    • Posted by  $  DrZarkov99 4 months, 3 weeks ago
      Very true. The big oil industry works quite well this way, still somewhat of a "wildcat" competition, with companies selling off and acquiring assets to stay afloat. Some companies wind up bankrupt, but there is no lack of other creative entrepreneurs to pick up the remains and get rich. That industry seems to be quite profitable and healthy, even with such a dynamic environment.
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    • Posted by Herb7734 4 months, 3 weeks ago
      Excellent point. Nothing is "too big to fail." The basic tenets of Capitalism are quickly discarded the moment they don't fit the current agenda. And who are the people who do that? They are the ones who call themselves Capitalists. We are currently the shambles of a once great edifice with only the strongest parts of Capitalism still holding the tattered framework together.
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  • Posted by  $  AJAshinoff 4 months, 3 weeks ago
    I think this is something beyond his ability to achieve as Potus. Seems to me he'd need a lot of help in congress to get this done, making it unlikely since practically everyone one in government is bought and paid for.
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    • Posted by 4 months, 3 weeks ago
      Agree with you.
      I looked for other articles online about this, but all were older than a few weeks. He hired a cabinet full of Wall Street toadies and sympathizers. Can't see them keeping any plans under wraps to allow success either. Well, unless it gives more power to Goldman Sachs by reining in the others. I think this is another case where the label placed on an action ("breaking up big banks" or "free trade bill") is really implementing the opposite thing.
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  • Posted by term2 4 months, 3 weeks ago
    The swamp is deep and wide. President cant drain it by himself, and the establishment (whether repub or democratic) will fight him at every turn.
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  • Posted by 4 months, 3 weeks ago
    If true, expect the threats from Wall Street about the disaster to come from not allowing them to gamble away the savings of all other Americans, although they won't express it in those terms. (Bankers always get a taxpayer bailout when their gambles collapse.)
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  • Posted by fosterj717 4 months, 3 weeks ago
    If he were really serious about the banking monstrosity that we now have he would really be pushing to audit the Federal Reserve before he starts "breaking" banks up. The entire system is a joke and is totally out of control. Crony-capitalism at its worst! Unfortunately Keynes is the darling of the establishment and the bankster foxes (Jamie Dimone, et al) are guarding their own hen-house. If there is no audit, there will never be any real banking reform that is meaningful. Be prepared for business as usual (until the crash of crashes that is)......You can only kick the can down the road for so long!
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    • Posted by 4 months, 3 weeks ago
      There were timely audits done every year at Enron and they didn't uncover anything. I agree with the spirit of your post, but the corruption is so embedded in the financial system that an audit will be as effective as the investigation into Kennedy's assassination and the 911 attacks. It will result in another coverup because there is no one with any authority with a conscience in the entire system. At best a scapegoat will be picked, a claim to review, and revise, and the it will be business as usual. At least Nixon gave the appearance of respect for the office when he fell on his sword and resigned. There is nothing but evil sociopathy in the banking cartel.
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      • Posted by fosterj717 4 months, 3 weeks ago
        Therein lies the problem. An audit of the Fed would start at what I believe is the most important part. How much gold is there remaining of the original amount? Once that is settled, then a "realistic" look at the entire Federal Reserve system can be enacted. Audits as you said may not be able to cut through the criminality (or just incompetence and/or greed). However, validating the status of the amount of gold in the depositories (I.e., Fort Knox, FRBNY, etc.) would go a long ways to cutting through the unholy relationship between the banking industry and our supposed "federal" government. We have to start somewhere don't we?
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