blueash
06-17-2017, 12:57 PM
There is a good chance that the GOP bills to deregulate the large banks, remove the controls put in after the economic collapse of 2008, will pass.
Appearing before a Senate committee is Mr. Simmons who is CEO of one of the 50 largest banks in America. He testified before Congress in 2006 that no regulations were needed and that the way his bank operated was great. His bank then needed 1500 million taxpayer dollars to be bailed out.
He returns now to say get rid of those regulations.
Note how he begins many of his answers with "Listen" which is a word you use with those you feel you control. And note how he says his bank didn't really need the money as it was fine. Then give it back.
Elizabeth Warren HUMILIATES Bank CEO for Taking a Taxpayer Bailout While Pushing Deregulation - YouTube (https://youtu.be/9UiyFINn9yc)
Warren:I just want to say here you know, what I noticed about this is whenever things are going okay the banks come in here and say yay let's reduce the rules let's let everybody go out what could possibly go wrong? And then when things go wrong, banks like yours line up and say to the taxpayers bail me out. Our job is to make sure that we do not permit the next failure to happen because it helps short-term bank profits. Our job is to watch out for the taxpayers and the security of this economy.
Even those on the right would recognize this as a righteous statement and her questioning as being direct and well prepared.
Appearing before a Senate committee is Mr. Simmons who is CEO of one of the 50 largest banks in America. He testified before Congress in 2006 that no regulations were needed and that the way his bank operated was great. His bank then needed 1500 million taxpayer dollars to be bailed out.
He returns now to say get rid of those regulations.
Note how he begins many of his answers with "Listen" which is a word you use with those you feel you control. And note how he says his bank didn't really need the money as it was fine. Then give it back.
Elizabeth Warren HUMILIATES Bank CEO for Taking a Taxpayer Bailout While Pushing Deregulation - YouTube (https://youtu.be/9UiyFINn9yc)
Warren:I just want to say here you know, what I noticed about this is whenever things are going okay the banks come in here and say yay let's reduce the rules let's let everybody go out what could possibly go wrong? And then when things go wrong, banks like yours line up and say to the taxpayers bail me out. Our job is to make sure that we do not permit the next failure to happen because it helps short-term bank profits. Our job is to watch out for the taxpayers and the security of this economy.
Even those on the right would recognize this as a righteous statement and her questioning as being direct and well prepared.