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Senators Brown, Kaufman File "Too Big To Fail" Amendment

Tyler Durden's picture





 

Senators Brown and Kaufman, who as we previously noted presented a "Too Big To Fail" amendment to the finreg bill, have now officially filed this proposal, whose primary purpose is to cap the size of the massive banking monoliths. It will be interesting to see who votes for and against this amendment to see just how far the long hand of Wall Street reached. Below is an FAQ on the proposed Size and Leverage Limits as proposed by the senators.

 

 


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Thu, 04/29/2010 - 14:03 | Link to Comment jkruffin
jkruffin's picture

Geithner to face criminal charges?  Yea okay, they can't even fucking get Goldman Sachs in court,  how they gonna prosecute the ring leaders?

 

http://finance.yahoo.com/tech-ticker/article/475733/Geithner-In-the-Cros...

Thu, 04/29/2010 - 14:19 | Link to Comment casino capitalism
casino capitalism's picture

Time for everyone to see first hand just how captured the politicians are.

Thu, 04/29/2010 - 14:22 | Link to Comment Stevm30
Stevm30's picture

Passing this won't fix a thing.

Thu, 04/29/2010 - 14:36 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

I will have to agree with you Stevm30.  Political grandstanding is fun to do in front of the plebes.  The reason I have to agree with you is that Mr. "I VOTED FOR TARP TWICE AND WILL IGNORE CALLS TO AUDIT THE FED AND GOLDMAN SACHS IS ONE OF MY TOP POLITICAL CONTRIBUTORS THAT BOUGHT MY SEAT AT THE TABLE SO I OWE THEM A PLETHORA OF SNOWBALLING OPPORTUNITIES" Brown couldn't possibly bite the hands that feeds him.  Besides, no amount of government controls will EVER tame the monsters of collusion (Fed, Treasury, Congress).  What political hack would really want to end the circle jerk orgy of political contributions, bought regulators, and legislation written by the banks to regulate the banks? 

I believe Mr. Brown is hoping us Ohioans completely forget his stance on the bailouts and the 2,000 calls, emails, and visits a day for weeks to his office, 95% of which were against the wealth transfer of 2008.  I would, of course, expect my alleged assumptions of Mr. Brown and the cognitive dissonance of his constituents to be correct.  These guys are good I tell ya.

Thu, 04/29/2010 - 14:30 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Give the banks 40 years of our taxes and then split 'em up.  Genius.  One side does the first step, the other the second.  Dems then Replubs.  Do you see?  Do you see what they are doing?  Then the smaller banks will be forced to make loans to keep their books up.  This will CAUSE HYPERINFLATION.  Both sides of Congress are in on the take.  Both sides!  There is no good guy.  They all hate you.  TRUST NO ONE.  Buy your own coin.  It is already too late to save the Federal Government.  Save yourselves.

Thu, 04/29/2010 - 15:04 | Link to Comment faustian bargain
faustian bargain's picture

Defaults and pitchforks, baby!

Thu, 04/29/2010 - 17:48 | Link to Comment A Nanny Moose
A Nanny Moose's picture

If TBTF are broken up, who gets the bad parts? There will be bad parts.

Fri, 04/30/2010 - 00:29 | Link to Comment Moonrajah
Moonrajah's picture

I thought that was pretty obvious. The toxic parts will form a few institutions of which we the taxpayers be the proud owners, of course. Hey, wanna buy a bank from me?

Fri, 04/30/2010 - 04:21 | Link to Comment Grand Supercycle
Grand Supercycle's picture

 

Previously mentioned EURO buying support has returned...

 

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