Posted on 07/05/2009 2:46:32 PM PDT by John W
-Megabanks may be slimmed down, told to prepare plans for own demise
They are the biggest of the big — the Citigroups, the Goldman Sachses, the AIGs and other financial behemoths. The Obama administration doesn't want so many around anymore.
Financial regulations proposed by the president would result in leaner and simpler institutions that don't carry the weight of the system on their marble columns.
Around Washington and Wall Street they have come to be known as TBTF — too big to fail. It's not just size, though. These companies are so far-flung, so intertwined and so precariously leveraged that a single one's collapse can create systemwide tremors that imperil the finances of millions of Americans.
(Excerpt) Read more at msnbc.msn.com ...
ping
Out government is not too big to fail. And a lot of us are getting ready for that day. When it does... the Obamaloons had better get their sorry stupid butts to Venezuela to live with a fool of their own kind.
And they had better stay there.
So, Hussein wants to cut the big banks by at least 50%. How then will they have the scale to compete internationally?
Who needs more than one nationalized bank? When the government owns and operates it, competition is not allowed anyway, just like single payer health care.
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