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Wall Street
Wall Street is spending $500 million to convince Congress to kill the reform bill that will finally curb their reckless behavior.1
That's one investment that's paying off. Every single Republican is now on record opposing Wall Street reform.
That means every single Republican is on record protecting the big banks instead of the countless Americans who lost jobs, money, houses, or their pensions because of Wall Street's behavior.
It seems hard to believe that anyone would want to oppose Wall Street reform in the middle of a major financial crisis like this. But the Republicans are willing to do it to protect their allies at the big banks.
They know this is a high risk strategy. Their pollsters say the only way they'll get away with it is if they lie about Obama's plan and say it will cause more bailouts—even though they know that it will do the exact opposite.2
That's one investment that's paying off. Every single Republican is now on record opposing Wall Street reform.
That means every single Republican is on record protecting the big banks instead of the countless Americans who lost jobs, money, houses, or their pensions because of Wall Street's behavior.
It seems hard to believe that anyone would want to oppose Wall Street reform in the middle of a major financial crisis like this. But the Republicans are willing to do it to protect their allies at the big banks.
They know this is a high risk strategy. Their pollsters say the only way they'll get away with it is if they lie about Obama's plan and say it will cause more bailouts—even though they know that it will do the exact opposite.2
Yes, the banks are to set aside money in case they get into trouble because the pres said tax payers will no longer do it. I think it makes sense and yes I agree it needs done as well as other things.
Here's a scary piece of info.
In 1995, the assets of the six largest banks totaled 17 percent of the nation’s gross domestic product. Now they have assets amounting to 63 percent of G.D.P. Measured another way, the share of all banking industry assets held by the top 10 banks rose to 58 percent last year, from 44 percent in 2000 and 24 percent in 1990.
In 1995, the assets of the six largest banks totaled 17 percent of the nation’s gross domestic product. Now they have assets amounting to 63 percent of G.D.P. Measured another way, the share of all banking industry assets held by the top 10 banks rose to 58 percent last year, from 44 percent in 2000 and 24 percent in 1990.
There is a fund that's paid for by the banks. It's kinda like prepaying for your funeral. It would cover the costs of closing a bank that gets in trouble, so no tax payer money would be used.
Is there not a provision in the bill that basically says that the government would intervene if a company that is valuable to the whole of our economy begins to fail? I believe there is a fund set aside for this. This is part of what is being questioned.
Obama out-ted the Republicans the other day. They got caught meeting with the Wall Street big-wigs. Now after seeing the polls today .......they are back on board.
It is my understanding that republicans and democrats as well as the pres and pelosi are all in negotiations as we speak. It would appear that we may get a bi partison bill against wall street. Yay! We can only hope as 67% of the population want this done ,on both sides of the isle.
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