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Forum Post: If We Break Up the TOO BIG TO FAILS, Smaller Banks Will Thrive … And Loan More to Main Street

Posted 13 years ago on Nov. 11, 2011, 8:19 p.m. EST by MonetizingDiscontent (1257)
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If We Break Up the Giants, Smaller Banks Will Thrive … And Loan More to Main Street

Banks receiving government aid cut loans

http://www.usatoday.com/money/industries/banking/2010-04-21-tarp-banks_N.htm?loc=interstitialskip

Banks that received federal assistance during the financial crisis reduced lending more aggressively and gave bigger pay raises to employees than institutions that didn’t get aid, a USA TODAY/American University review found.


If We Break Up the Giants, Smaller Banks Will Thrive … And Loan More to Main Street

The Only Way to Save the Economy: Break Up the Giant, Insolvent Banks

http://www.washingtonsblog.com/2011/10/the-only-way-to-save-the-economy-break-up-the-giant-insolvent-banks.html

9 Comments

9 Comments


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[-] 1 points by JackHall (413) 12 years ago

The 3 Stooges who broke our economy are proof the Republicans should get out of government and politics.

The Republicans didn’t see a problem with the Gramm Leach Bliley law when it was written. Most Democrats didn’t either. Now Republicans aren’t doing anything to repair the damage and prevent recurrences. Democrats aren’t doing enough.

Byron Dorgan (D) N.D. v Gramm (R) Leach (R) Bliley (R) http://www.youtube.com/watch?v=OvnO_SH-4WU&list=PL399213F28C3CC71A&feature=plpp_play_all [right click]

[-] 1 points by RicoSuave (218) 13 years ago

It's too late to break up the "too big to fail" banks and GSE's.

The Dodd-Frank Bill that was rammed through congress by the Democrats and Obama has enshrined "too-big to fail" into law.

Where were all the OWS people 2 years ago when that bill was being crafted? Nowhere. They were silent. They were happy as long as Democrats ran the whole show. No one asked any questions.

But now .... because of Dodd-Frank, the American taxpayers are on the hook for future bailouts of "too-big to fail" institutions.

The Democrats did absolutely nothing to fix the root causes of the last financial meltdown. Now, with Dood-Frank, the next financial meltdown is all but assured.

But then again, most of the ignorant people in OWS will vote Democrat again in the next election and continue to blame Wall Street .... instead of their own corruptocrat politicians who play them like fiddles.

[-] 1 points by PublicCurrency (1387) 13 years ago

can't never could

[-] 1 points by PublicCurrency (1387) 13 years ago

LOBBY your state legislature to create a publicly owned STATE BANK like the Bank of North Dakota.

North Dakota’s money and banking reserves are being kept within the state and invested there. The BND’s loan portfolio shows a steady uninterrupted increase in North Dakota lending programs since 2006.

According to the annual BND report:

Financially, 2010 was our strongest year ever. Profits increased by nearly $4 million to $61.9 million during our seventh consecutive year of record profits. Earnings were fueled by a strong and growing deposit base, brought about by a surging energy and agricultural economy. We ended the year with the highest capital level in our history at just over $325 million. The Bank returned a healthy 19 percent ROE, which represents the state’s return on its investment.

A 19 percent return on equity! How many states are getting that sort of return on their Wall Street investments?

http://www.webofdebt.com/articles/north_dakota.php

[-] 1 points by GypsyKing (8708) 13 years ago

Great Point! There are some honest small time bankers, but I think credit unions are even better. Great idea to just ditch Citicorp, Chase, Bank of America and all down the line. That is something active everyone in this movement can go, and God help congress if they try to bail them out!

[-] 1 points by PublicCurrency (1387) 13 years ago

Move your money out of the zombie too big to exist banks. - go to credit unions and community banks - the too bigs will not be able to hide.

[-] 1 points by nomdeguerre (1775) from Brooklyn, NY 13 years ago

Too big to fail = too big to exist.

[-] 1 points by Nevada1 (5843) 13 years ago

Good post. The more rotten the bank, the more they needed aid to survive.

[-] 0 points by VladimirMayakovsky (796) 13 years ago

Why would the banks loan anything to Main Street given how weak the economy is? If those loans blow up everyone will be blaming the banks for being greedy. So, the people got what they wished for. Banks are not lending.