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Tag Archives: break up the banks

Populism III

From the Huffington Post news of 89 year old women tossing her virginity in her fight against the credit lending practices of the card companies…. ~~~ John Clinton Tuttle of Seattle, Wash. is waging guerrilla warfare against high interest rates and other depredations of the credit card industry. He’s literally sticking it to ’em — […]

Barney Frank, Zhu Min and global hot money flows…

Interesting undercurrents at The Next Global Crisis panel at the World Economic Forum at Davos… Check out the video at 1 hour 10 minutes. You can see the comments of Zhu Min, the deputy governor of the People’s Bank of China (the Federal Reserve of China), as he gives some insight from his part of […]

If we focus our banks on small enterprises that will make our economy more dynamic

Bankers to lobby at Davos for softer reforms

At the House Financial Services Committee hearing last week Chairman Barney Frank mentioned that he would be attending the World Economic Forum in Davos and have a chance to discuss coordinating global financial regulation with officials from other countries… all to the good… The Financial Times is reporting another variety of lobbying that the banks are […]

You have banks “too large to regulate”, “too large to fail” and above the law

C.R. “Rusty” Cloutier, chief executive officer at MidSouth Bank, talks with Bloomberg’s Carol Massar about President Barack Obama’s proposal to limit U.S. banks’ size and trading activities. Cloutier also discusses the outlook for financial regulation. Mr. Cloutier debunks the argument that America needs massive banks to be globally competitive… America is being strangled by its […]

A public debate of historic proportions – the kind that shaped this republic

Simon Johnson writing in Bloomberg… ~~~”… Still, we should treat the next few weeks as the public-comment phase for potentially serious principles and an opportunity to press for workable details. The big banks, naturally, are already hard at work pushing in the other direction. This is actually good and exactly what we need. The banks […]

”They see that regulation, which was a taboo word that was difficult to use in financial circles in the United States, is vital to containing and limiting banking excesses.”

The Obama/Volcker plan is generating positive feedback from the places that count… specifically from Christine Lagarde, France’s finance minister… The banks that pose a problem to the safety and soundness of the American economy are also the banks that created global instability in 2007, 2008 and 2009… this reform effort must be truly global… (President […]

“The markets are becoming risky again, bankers are becoming risk-takers again,”

The efforts of global political officials to rein in the global banking elites are falling flat… President Obama held a meeting of Wall Street bankers at the White House and heads of several of the biggest banks pardoned their absence with weak excuses … Gordon Brown and Alistair Darling of the UK imposed a “banker bonus” tax […]

Move your money!

Three cheers for Arrianna Huffington, political strategist Alexis McGill, filmmaker/author Eugene Jarecki, and Nick Penniman of the HuffPost Investigative Fund… for this great campaign to encourage everyone to move their banking to local banks and credit unions… From HuffPo — “The idea is simple: If enough people who have money in one of the big four […]

This is what reform sounds like…

Elizabeth Warren has done Americans an enormous service in the development of the concept of a “Consumer Financial Protection Agency… and more immediately her leadership of the Congressional Oversight Panel has been very effective in the oversight of the use of the hundreds of billions of TARP dollars… she speaks plainly for the need for […]