Breaking Up Citigroup, Fannie and Others

erpowers

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Tue Nov-25-08 09:28 AM
Original message

Breaking Up Citigroup, Fannie and Others

I contend we need to break up companies like Citigroup, Fannie Mae, and Freddie Mac. It seems to me that these companies were allowed to become to big. Maybe it is just the excuse people are using for the bailouts, but every time a company is bailed out the explaination is that the company was too big to fail. I contend along with bringing back rules that would detail how these companies conduct business their should be other rules that push for these companies to be broken up.

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tekisui

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Tue Nov-25-08 09:29 AM
Response to Original message

1. YES!

All these "too big to fails" are TOO BIG and need to be busted up.

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crazylikafox

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Tue Nov-25-08 09:32 AM
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2. Yep. I've been thinking the same thing. Time for the trust busters.

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KharmaTrain

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Tue Nov-25-08 09:36 AM
Response to Original message

3. The Missing Link

First...Fannie and Freddie should return to what they were designed for...to back up mortgages...not to be an issuer. The big banks definitely need to go on a diet...a regulatory one. They are the "Jack Of All Trades" and a master of none. Bigger isn't better since it also mean more greed and corruption...as well as being anti-competitive. What pisses me with all these bail out is how few heads have rolled...giving money to the crooks who squandered it in the first place and expecting them to fix the problem. January 20th can't get here fast enough.

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The2ndWheel

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Tue Nov-25-08 09:56 AM
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4. That's what corporations try to do to unions

It's interesting how it all just goes back and forth. All sides want to unite together, but all sides want to break any other united effort.

It will only work when there is a single global union, when there is a single global corporation, and when there is a single global government. However, they all have to have a single global interest. So really, you can't even have three separate entites. The union, the corporation, and the government actually all have to merge into a single body. Otherwise, the same fight will just keep going on round after round. It's a massive waste of energy to continue doing that.

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Phred42

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Tue Nov-25-08 09:59 AM
Response to Original message

5. YEp - As Bernie Sanders has been saying

If it's too big to be allowed to fail - it's too big.

It MUST be broken up.

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Raineyb

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Tue Nov-25-08 10:38 AM
Response to Original message

6. Absolutely!

That is exactly what's needed.

I'm dismayed that the bailout money has been used to encourage banks to merge which is the exactly opposite of what needs to happen.

Regards

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