Bernie Sanders (I) Vt. has introduced a bill to break up the hugh banks.

He said if they;re too tig to fail they;re too big to exist! His bill is only 2 pages long and he want's it attached as an ammendment to the banking bill.

He's asking for all of us to sign the petition on his web site.


http://sanders.senate.gov/petition/?uid=c53f1aca-5881-403e-928b-a25980cb4e0c

You can read his comments and all about his bill AND sign the petition at the link.

Please take a few minutes to do so. All you need to provide is your name, email addy, State, county & zip where you live.

The site says they already have 11,000 sigs but I know there's more than that because I signed it and the number didn't change.

We;ve got to break the corporate stranglehold on the US!

:thumbsup:

signed and rec.

:P I signed the petition.

I hear they're great fishing grounds.

Why would they want to break them up?

I can't find any of his movies listed on IMDB. Must have been a very minor actor.

"Hugh Banks" sounds like a porn star, so checking the porn IMDB might be a good idea, eh?

:rofl:

kentuck

:D

But I suspect 71 Democrats would still find a way to claim they are too few to implement an agenda.

not dig their heels in the sand.

Thanks for the link.

though it's probably something to worry about deeper into the cycle. You don't want to tie the hands of lenders when we're trying to get the economy off the floor. Size had its benefits when JP Morgan was able to absorb WAMU and Bear Stearns last year, likewise with Wells and Wachovia, and BA buying Merrill was probably better than Merrill following the path of Lehman.

I signed the petition too.

The danger from terrorists pale in comparison to the danger posed by unchecked corporate power.

Think it over.

Imagine the liberals already in the Senate bolstered by the addition of a gang who are left wing like Sanders. There would be a bigger margin to shove in a stronger Public Option that will help keep costs down with private insurers.

By Nomi Prins

Thread in the editorials forum...
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=103&topic_id=496007&mesg_id=496007


snip>>

"...Meanwhile, as reform bills from Senator Christopher Dodd's (D-CT) to Representative Barney Frank's (D-MA), to the plans from the Treasury Department and the White House, make their way from concept to draft to vote, we've got to keep one thing in mind. The beast that is today's complicated, convoluted, risk taking, federal capital sucking, and bonus paying mega-bank is still roaming around free.

As long as it remains out of its cage, creating plans to slow its movements are always going to be much harder, than putting it back in a stronger cage. Though, it's important to have a Consumer Financial Protection Agency, better derivatives regulation (if only that were on the table for real), and 'funeral plans' as Dodd's bill calls them, to put too big to fail banks to bed just before they keel over, it doesn't change the nature of the beast.

And though one way to keep some of our money out of the mouths of the most rapacious banks, would be to reduce leverage limits and increase capital requirements for the riskiest banks, or as Tim Geithner and Fed Chairman, Ben Benanke like to call them, 'the systemically important' ones so they can pay for their own clean-up - this too has a catch.

The more capital banks are required to hold, while being allowed to operate as investment banks that use hoarded capital as collateral for increasing their own borrowing and trading businesses, the less lending they will provide to ordinary citizens and small businesses. Without splitting up the banking structure to avoid the hoard to trade, not to lend, scenario, we are creating legislation to help banks bloat on risk - they will have less than no incentive to do much else..."

nt

knr!

K & R

;)

Don't you just love Bernie, straight to the point, no BS :) I wish he was mine.

have to say about it! Ratigan is the PERFECT person (IMO) to get the word out and around. He really has a problem with Geithner and says so OFTEN on his show. Almost EVERY DAY! I really should supply his website link because he asks for help all the time. Just didn't go there before I posted.

I'll sign ANOTHER petition, but I've so many, none seem to have ANY affect and I'm disillusioned by almost ALL of them. But I'll sign because it's Bernie Sanders!

already signed. I'm on his mail list.

and pass it on to all local news outlets.

If ya can...

too and encourage them to support the bill.

:kick:

Oh . . . I remember . . . . TPB pick our leaders for us -- !!!

:evilgrin:

http://sanders.senate.gov/petition/?uid=c53f1aca-5881-4...


:) :)

Lol - sorry about that.

I signed the petition - thanks for the heads up!

a locally owned bank.

You need not wait for politicians, even great ones like Bernie.

Message removed by moderator. Click here to review the message board rules.

Whether it was mistakenly misspelled or done purposely, as a favorite DU 'freeperism' ... it's rude to call a fellow poster a demeaning mane.

efficiency of a 2 page banking bill amendment versus +1K pp of the house-passed HCR bill.... I'll bet there's a lot of concessions mucho pork attached to the HC bill, with more than a few on both sides of the aisle selling their votes to powerful lobbyists. Because even though life is an inalienable right, decent health care that prolongs life isn't.

:rofl: @ Blue_In_AK, Wiley50, Chief, jmow, and Sinti.

:applause: for Touchdown's "Sandersseses." If only we had SIXTY of 'em in the senate right now, we'd be doing much better. Alas, perfection is an unattainable ideal, even when majority rules.

Hugh = HUGE. As in, "perhaps you should change the HUGE typo in the title of your thread." :)

After living in Toronto for 4+ years, it's weird walking out my door in Chevy Chase and seeing TD's logo. Now, there's a second one.

Then they folded up and went back north. I was hoping that the Canuck banks would take the plunge and go south during the 2008 mortgage crisis, just so they can fight with the big US banks. Your money is safer if you put it with them, because the laws are much stiffer in Canada than in the US.

on the corner.

Yeah, it was weird living in GTA and banking with the Bank of Montreal.

For people who espouse capitalism the way the RW does, I can't see providing any welfare to corporations and banks so that they won't fail. I would hate anything to hurt capitalism like this does. It flies in the face of capitalism and is anti-American! ;)

I don't expect much to come of it though. "The people" opposed the financial market bailout at a ratio of 100:1.

I got my "conservative" SO to sign too!

:D

and shared on facebook

Barney Frank and Barack Obama would never go along with it.

Did the right-wing jerkoffs ever let the fact that it couldn't be done now stop them? "It can't be done, so don't try?" To hell with that! If we want those morons in Congress to actually listen to us, we have to let them know we are out there. And Bernie is providing us a way to do so. So sign it!

Signed. And K&Red.

I agree that as long as these behemoths exist, there will be shivers throughout the economy every time there are even rumors of failure. But to suggest that we now try to undo what previous Administrations, both Democratic and Republic, may invite even greater turmoil in the financial sector.

What we need are regulators that are not afraid of our existing anti-trust laws. They were used to break up Ma Bell when she was a monopoly. Time and again we see regulators sleeping with the enemy and granting approvals for all manner of M & A activities.

Clearly there CAN BE efficiencies gained through economies of scale when two entities combine. But in our current climate these mergers are rubber-stamped, business interests control Congress and the American people have absolutely no influence over these financial disasters.

This is one of the problems with complex systems. While developing larger, more centralized institutions may provide "efficiency" in good times, it also removes a tremendous amount of redundancy and resiliency from the system.

When this happens, and one part of the system fails, there isn't anything there to pick up the slack -- and the entire system as a whole can come crashing down.

eom

I love Bernie!

:-)

Kudos to Bernie Sanders... :patriot:

Bernie got it right again.