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Real problem, wrong solution

May 8, 2013

Sen. Sherrod Brown, D-Ohio, has the right idea but the wrong strategy. Brown has introduced a bill intended to safeguard taxpayers from having to bail out more “too big to fail” banks in the futur....

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May-10-13 9:43 PM

Agreed, bubu... Clinton's Goldman-Sachs big-bank buddy, Treas. Sec. Robert Rubin, led the fight to end Glass-Steagal ostensibly to help US banking giants compete with the more integrated foreign giants, only to end up with us bailing them ALL out thanks to the US's toxic sub-prime mortgage fiasco that Clinton also promoted. Typically, instead of admitting mistakes and returning to the relatively simple and successful Glass-Steagal regulatory system (except for S&L failure also due to govt housing policy) we get thousands of pages of Sarbanes-Oxley and Dodd-Frank regulatory legislation that inflates the federal bureaucracy and burdens small banks, militating again for more bank consolidation. It's standard fed. govt practice.

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May-08-13 11:31 PM

The problem is not with the banks its with the CEO's and the corperate boards. They are well paid and have stacks of funds packed away for themselves ,so if the bank fails they walk out multi millionares without a worry in the world. Just look at past banks and companies that have gone under. Most CEO's did real good. If the banks fail and the CEO's and board members lost all their assests things would change overnight. It is like the immigration problem. Put the owners and CEO's that hire them in jail with a mandatory 2 years with no appeals the problem would go away overnight. But I guess you can't punish people that are paying for your re-election campaigns.

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May-08-13 11:09 AM

There are fewer and fewer banks and even fewer who have competitive rates. There hasn't been a free-market economy in Iowa since the Depression.

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May-08-13 10:27 AM

Break up the "to big to fail" banks and reinstate Glass-Steagle!

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May-08-13 2:17 AM

Who cares? I think the bill sounds like a good idea. What ever happened to the "free market?" If one bank charges it's customers fees to actually cover these things while making record amounts, just switch to a different bank that doesn't charge as high of fees. I have zero sympathy for the banks or their investors for that matter.

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