Forum Post: Breaking up "too big to fail banks" should be a top demand
Posted 13 years ago on Oct. 14, 2011, 7:13 p.m. EST by longjohn
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"Too big to fail" banks caused the 2008 crisis that started the great recession through risky and corrupt bet on sub-prime mortgage-backed securities and derivatives. They were bailed out by the US government with nearly $1 trillion. In 2009 and 2010 as the market recovered Wall St firms paid out record bonuses. The largest investment banks (JPMorgan Chase, Goldman Sachs, Citigroup, etc.) are even bigger since the crisis and have the incentive to continue to take on significant investment risks knowing that they can profit from the upside while the US taxpayer will be on the hook for the downside. While bank regulation should be increased, its effectiveness is limited by the complexity of modern investments and Wall St influence in Washington. The best approach is to break up "too big to fail" banks so that the risk of failure will force self-regulation.
I like this link, it seems to list the demands nicely:
http://www.rollingstone.com/politics/news/my-advice-to-the-occupy-wall-street-protesters-20111012
Many more people will come to your side when you are proactive (for “new” Business & Government solutions), instead of reactive (against “old” Business & Government solutions), which is why what we most immediately need is a comprehensive “new” strategy that implements all our various socioeconomic demands at the same time, regardless of party, and although I'm all in favor of taking down today's ineffective and inefficient Top 10% Management System of Business & Government, there's only one way to do it – by fighting bankers as bankers ourselves; that is, using a Focused Direct Democracy organized according to our current Occupations & Generations. Consequently, I have posted a 1-page Summary of the Strategically Weighted Policies, Organizational Operating Structures, and Tactical Investment Procedures necessary to do this at:
http://getsatisfaction.com/americanselect/topics/on_strategic_legal_policy_organizational_operational_structures_tactical_investment_procedures
Join
http://finance.groups.yahoo.com/group/StrategicInternationalSystems/
because we need 100,000 “support clicks” at AmericansElect.org to support a Presidential Candidate -- such as any given political opportunist you'd like to draft -- in support of the above bank-focused platform.
Most importantly, remember, as cited in the first link above, that as Bank Owner-Voters in your 1 of 48 "new" Business Investment Groups (or "new" Congressional Committees) you become the "new" Congress replacing the "old" Congress according to your current Occupation & Generation, called a Focused Direct Democracy.
Therefore, any Candidate (or Leader) therein, regardless of party, is a straw man, a puppet; it's the STRATEGY – the sequence of steps – that the people organize themselves under, in Military Internet Formation of their Individual Purchasing & Group Investment Power, that's important. In this, sequence is key.
Why? Because there are Natural Social Laws – in mathematical sequence – that are just like Natural Physical Laws, such as the Law of Gravity. You must follow those Natural Social Laws or the result will be Injustice, War, etc.
The FIRST step in Natural Social Law is to CONTROL the Banks as Bank Owner-Voters. If you do not, you will inevitably be UNJUSTLY EXPLOITED by the Top 10% Management Group of Business & Government who have a Legitimate Profit Motive, just like you, to do so.
Consequently, you have no choice but to become Candidates (or Leaders) yourselves as Bank Owner-Voters according to your current Occupation & Generation.
So please JOIN the 2nd link, so we can make our support clicks at AmericansElect.org when called for by e-mail from the group in the 2nd link, and then you will see and feel how your goals can be accomplished within the strategy of the 1st link as a “new” Candidate (or Leader) of your Occupation & Generation.
Insisting that Glass-Steagall be reinstated in its entirety will go a long way toward the stated objective. Reining in the Federal Reserve, if not abolishing it altogether, will take care of the rest. Do business with credit unions and small community banks; avoid the TBTF banks. If our government didn't bailout the TBTF banks, they would have failed on their own and all of this would be moot.