Post by AztecWilliam on Nov 12, 2012 0:27:00 GMT -8
New legislation may have the effect of protecting large banks while at the same time causing most small banks to disappear.
A couple of responses to the piece that discusses this issue are instructive.
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Another case of large businesses benefiting from heavy government regulation. This is why the economic output continues to be concentrated in fewer and fewer larger businesses.
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And that is why the names of the big banks that are too big to fail are written into the Dodd Franks bills. That means that no matter how stupid they get we will bail them out. As I've always said the GOP might be owned by Industrial corporate America, but the Democrats are owned by the big banks and Wall Street. That's why we haven't seen one bank even prosecuted for mortgage fraud or been brought to justice over what happened to the American economy in 2008.
finance.fortune.cnn.com/2012/11/09/banks-disappear-obama/?iid=SF_F_River
AzWm
A couple of responses to the piece that discusses this issue are instructive.
=================
Another case of large businesses benefiting from heavy government regulation. This is why the economic output continues to be concentrated in fewer and fewer larger businesses.
===============================
And that is why the names of the big banks that are too big to fail are written into the Dodd Franks bills. That means that no matter how stupid they get we will bail them out. As I've always said the GOP might be owned by Industrial corporate America, but the Democrats are owned by the big banks and Wall Street. That's why we haven't seen one bank even prosecuted for mortgage fraud or been brought to justice over what happened to the American economy in 2008.
finance.fortune.cnn.com/2012/11/09/banks-disappear-obama/?iid=SF_F_River
AzWm
