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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (128510)	12/6/2012 9:01:55 PM
From: tejek	Read Replies (1) \| Respond to of 149317

tejek, we're playing with the issue too. Our big banks are more concentrated and riskier than ever with their derivative bets. They are leveraged to the hilt and loaded with toxic assets that are not marked to market. They still have the same criminals at the helm that caused the collapse to begin with. Nothing has changed. The only thing we've done is transfer some of the toxic assets to the Fed's balance sheet and flooded the economy with bailouts and cheap money. It's made everyone feel real good, but it has not addressed the underlying root causes. The too big too fails need to be busted down to size. They are no different than Ma Bell, Standard Oil, or the Robber Barrons. The big banks need to be broken up and the toxic assets dealt with once and for all. In addition, we need to balance our budget. If we don't do those two things, then we'll continue to have a lackluster economy for the foreseeable future. Actually, all the major banks were tested. Weak banks were closed and picked up by the stronger banks. Most of the major players during the crash are gone..........there are new heads at most of the major banks. Japan did none of that.........it tiptoed around the problem much like Europe is tiptoeing around its problems. The one valid point you make is that the major banks should probably get broken up. Is it likely to happen? Not in capitalistic Amerika.