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

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.

Perhaps I misunderstand but the big banks accepted Dodd-Frank because it provided for a taxpayer bailout if they failed where the NOT too big to fail banks had no such advantage and thus ................

Dodd-Frank and Sabanes Oxley both added significant costs to businesses.

Consider the government missed the housing bubble...well actually they contributed greatly to it and their solution to the problem was more government control

If Elizabeth Warren had her druthers all American businesses would be government owned. This is a person who appears not firmly moored

Let's get back to the days when if a business failed the business dealt with the consequences not taxpayers

Personal Best Regards:

Originally Posted by Guest

Perhaps I misunderstand but the big banks accepted Dodd-Frank because it provided for a taxpayer bailout if they failed where the NOT too big to fail banks had no such advantage and thus ................

Dodd-Frank and Sabanes Oxley both added significant costs to businesses.


Consider the government missed the housing bubble...well actually they contributed greatly to it and their solution to the problem was more government control

If Elizabeth Warren had her druthers all American businesses would be government owned. This is a person who appears not firmly moored

Let's get back to the days when if a business failed the business dealt with the consequences not taxpayers

Personal Best Regards:

I agree no business (including GM) should be balled out for they're management mistakes. Seems that big companies have back door policially. Which usually gets outgoing CEOs ( for fking up the company) paid in order to get them out. Too may times they are politically connected when federal government bails them out. Banks, GM, GE, and mortgage companies usually have they're hands out.

I totally agree when a business fails taxpayers should not have to pay. However, careful when the wolf comes knocking at the (congress) door.