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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (528178)	11/12/2009 12:45:18 PM
From: tejek	Respond to of 1576876

“Boeing and IBM can’t bank at the Silver Spring Community Bank,” Nichols said. He said he’ll be “vocal and persistent in the halls of Congress.” Lawmakers are considering breakup proposals after public outcry over the $700 billion rescue of firms including Citigroup, Bank of America Corp. and American International Group Inc. Congress passed Glass- Steagall in 1933 after speculative activities by many banks brought the system close to collapse. One result: Morgan Stanley, the investment bank split off from what is now JPMorgan Chase & Co. JPM and BAC now each control 20% of the banking business. Previously the rule of thumb was to let no national bank get more than 10% of the business. We've created monsters. And apparently, they are going back to the way they did business before the recession. I have had two calls this week of banks trying to get me to take on more credit cards. Apparently, its going to legislation to change the way the game is played.