Tag Archives: Too big to fail

Banks taken to court!



Yesterday, the NY Attorney General announced plans to file a lawsuit against HSBC for ignoring the law and hurting families in foreclosure. Big banks like HSBC think the rules don’t apply to them — not acceptable!

Over 40,000 people have already joined Elizabeth Warren in saying that we need to protect the public and break up the big banks.

Can you add your voice in support of the Brown-Vitter bill to break up the big banks? Click here to sign the petition.

Thanks! — Adam Green


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Stand with Elizabeth Warren

 

Elizabeth Warren did it again.

In another moment sure to go viral on YouTube, she grilled Treasury Secretary Jack Lew on the Obama administration’s opposition to breaking up the big Wall Street banks that are “too big to fail.”

Warren endorsed breaking up the big banks and preventing future bailouts. Senators Sherrod Brown (D-Ohio) and David Vitter (R-Louisiana) have introduced a new bipartisan bill to do just that.

Watch Elizabeth Warren in action — and join her in urging President Obama and Congress to end “too big to fail.” Sign our petition supporting the Brown-Vitter bill.

Warren pointed out that the largest financial institutions are getting bigger and bigger — 30% larger than they were when they wrecked our economy.

She asked Treasure Secretary Lew, “How big do the biggest banks have to get before we consider breaking them up?” He had no answer.

The media and political insiders need to see the public quickly rallying around Warren in order for her grilling yesterday to make a lasting impact.

Watch Warren in action and sign our petition in support of breaking up the big banks.

Thanks for being a bold progressive.

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thorny Tuesday &some News


In response to another doubter who also happens to be a hater of the “Obama Regime” with typical rightwing rhetoric. I respect your opinion; i may not agree but i will not call you names or think less of you. I do not know you; however, i did vote for Obama and will again because Republicans/Conservatives have proved themselves useless over the last twenty month. Republicans have no one in charge; they have no solutions only complaints.  The Bills passed by the Obama Admin have made it possible for a better future for all Americans. Yes, improvements need to made to those bills but that can only be done if everyone left of center gets out and votes this November because this is a pivotal moment in the progress needed in America

The Obama Administration is not practicing exclusion unlike Republicans who have made it quite clear what they plan to do if they take control of Congress. Republicans seem to feel helping your fellow man is not important in a time when things are so bad because they keep putting corporate profits before the people. This attitude will not improve our plight. If anyone needs a reminder, all we have to do is look to our past and by all accounts, the mostly sane people know and might admit that the house of Bush made numerous mistakes after walking into office with a surplus. The house of Bush under stress, maybe misinformed decided to wage 2Wars and gave 2huge tax cuts for the wealthy. If that was not enough those so-called people the upper 3% who Republicans say create jobs is trying to pass off as the truth. The fact is the house of Bush spent the surplus left by BillClinton. They spent the surplus on something(s) and then sent more money to wage wars, outsourced jobs and basically throwing the middle class under the bus and stomped all over us.

The solutions Republicans have offered up since Obama took office consist of scaled down versions of Bills int the Senate that are just band aids; thus slowing down our road to recovery. They are advocates for the top 2% and that 2% has been getting breaks far too long. It is obvious that Bush, Cheney and Paulson all f’d the people of the United States and because of that we have to rely on the government. Again, if you watch the House of Cards/cnbc you would understand why Wall Street types or capitalists like Bernie mad off and others like him engaged in creative accounting or just plain ole corruption like Corporations like AIG created a monster and the pay out by aig to various Banks was great.  The bets against the people or corruption worked its way overseas to become something too big to fail. The questions i would like answered are many but one would be why did the house of Bush wait so long to do anything to solve the problem before the collapse happened. We all need to ask ourselves what kind of Capitalism do we want.  If it is the kind of Capitalism that creates monster Corporations that abuse the rules, then you are foolish.

Capitalism does not mean firms should engage in cooking the books, secret transactions and or becoming bigger than their sum value or investing in schemes … that — is what happened …

We the People need capitalism with a small c and more regulation … with a huge R