Is there a Trump Tweet or something else to back up this claim of breaking up big banks?
Smells like Fake News to me.
He also said the Constitution is archaic and that he may change the First Amendment.
He says a lot of things.
Eventually, either the markets and other leaders are going to ignore him or he is going to learn that not every thought needs to be broadcast.
Before the big bailout there were tons of small local bank, competition, and sound financial decisions. The bailout and following regulations forced a lot of them out of business. The only ones who benefited were the too big to fail banks
Nothing Trump wants is in the CR and what he does through EO is blocked by the courts. Let me know if Trump ever gets control of the government then maybe things can change. Unless and until that happens it’s business as usual. In a year from now thi forum will be filled with people telling us to stay the course.
Governmental (including the Fed) regulatory policies favor large institutional banks. They allow them to gobble up smaller competitors who could not afford the overhead required to stay in compliance with an increasing number of rules and requirements.
If this is a move tied to reducing regulation and increasing competition, good.
Sounds like a buying opportunity if there’s real underlying value.
You don’t have to break them up, you just have to NOT bail them out when they are stupid and their investors are stupid.
Yes, they can hurt a lot of people when they go down. But bailouts hurt us on top of that. That’s just stupid.
Fine.
Glass-Steagal should be reinstated.
Vertical integration of finance is not a blessing, anymore than would car manufacturers owning most of the oil & tire industries as well.
Market trading, investment banking, insurance, pensions and retail banking all have different and necessarily different financial functions and different fiduciary responsibilities. Many points of error and reduction in competition have resulted from the consolidation of the different financial functions into financial conglomerates.
The ONLY thing that has “gained” from it is the size of financial companies and the reduction of how many companies represent the vast majority of assets in the industry.
LEVERAGE for building the WALL?
At some point we will have to break them up, or face a replay of the 2008 financial crisis, on steroids.
Dow down 9 points. Only up 1000+ points since the election. We’re doomed!
JFK paid with his life for having such thoughts
When the media attributes stock market motion to a political event, I pay no attention. They are generally lying.
Do It!
If we are going to have a Federal Reserve banking cartel, and the US Taxpayer bailing out banks, then break them up.
Return to the practice (forsaken after WWII) of all Commercial Banks being subject to double liability.
Make all other investment and speculative activities legally excluded from Federal Reserve open market operations and special programs, and outside of any bailouts from from Fed.gov.
We don’t need any three card monte here from Trump. He needs tell the Congress his veto pen is ready if they send up that turd budget. His and country’s future hangs on it.
Big business hates freedom. Crony capitalism is welfare for suits and ties.
Remember after the last crash when the pols promised to bust up all the financial institutions that were “too big to fail”?
Then the pols bailed them out with taxpayer money and forgot about their promises.
Now the “too big to fail” banks and other financial institutions are all bigger and more powerful than ever.
This is the Andrew Jackson of the 21st Century! Please read G. Edward Griffin’s “The Creature from Jekyll Island”! It’s the true answer to finally stopping the spread of Socialism and the blood that feeds it (i.e. The Fed Reserve and the unlimited power to create fiat currency)! This is actually the BEST News to come after the Election! Trust me!
“Interesting. “
Yes. Considering that most of mine including banks are up for the day.
CNBC=NBC. Maybe he said it, maybe he didn’t. They’re part of the subversive liars corporation.