Mind Blowing. First the Rand Paul filibuster, Now a Speech at CPAC for Breaking Up “Too Big to Fail” Banks

By: Tuesday March 12, 2013 6:40 am

Within one week Republicans are going to grab the national spotlight on two huge issues that should be the realm of the party who stands up for the little guy. That party used to be the Democratic party. How can they let this happen?

On Friday, at the CPAC convention, Federal Reserve Bank of Dallas President Richard Fisher is going to call for breaking up the big banks in the wake of a failed Dodd-Frank bill.

 

Robert Samuelson’s Lessons from Jamie Dimon’s Bad Bet

By: Wednesday May 16, 2012 9:00 am

Washington Post columnist Robert Samuelson says that people are taking away the wrong lessons from JPMorgan’s $2 billion loss on a proprietary trade gone bad. He has some legitimate points but carries his case too far.

NOT-BREAKING: SEC Is a Doormat for Wall Street

By: Saturday February 4, 2012 9:00 am

The NYT discovers what FDL readers have known for quite some time: the SEC is a doormat outside the banks and financial institutions of Wall Street.

But it’s not just people outside the SEC who see this. The Partnership for Public Service took data from annual OPM employee surveys of government workers and discovered that in 2011, the SEC ranked at or near the bottom in the “large agency” category, dragged down by abysmal ratings for the employees’ views of the effectiveness of the leaders and the leaders’ strategic management.

Whether seen from the inside or the outside, the conclusion is the same: the SEC is failing at its mission. For the banks, this is a feature, not a bug.

Veal Pen Preachers and Conservative Idolatry of Teh Market is an Ugly Combination

By: Saturday October 8, 2011 9:00 am

Gosh — preachers who have no problem railing about marriage equality and racial issues suddenly fall mute when they ponder preaching about the current economic mess. Can you say “Veal Pen Preacher”? Sure you can . . .

Add in a duplicitous visiting scholar from the Heritage Foundation who thinks Jesus preached predatory capitalism as the way of salvation, and you’ve got a nasty combination.

Whatever your thoughts on religion, that combination is truly toxic.

Bernie Sanders Helps Obama Shield Fed and TBTF Banks From Scrutiny

By: Thursday May 6, 2010 2:34 pm

Unable to whip the votes against Audit the Fed in the Senate, the White House prevailed upon Bernie Sanders to limit the audit to only going back to 2007, and Bernie complied.  What does that mean?  Scarecrow: The key is not when they audit, it’s what the get to audit. They’ve excluded the workings of [...]

Why Is Larry Summers Afraid of Having Many Small Banks?

By: Friday April 23, 2010 12:59 pm

The Administration sent the Larry Summers to PBS News Hour to explain to the unsophisticated that if we broke up the megabanks and instead had many smaller banks, it would be the end of America and the financial industry as we know it. I thought that was the point.

Obama, Geithner Still Dancing Around the Core TBTF Question

By: Thursday April 22, 2010 4:00 pm

Ever since the terms “too big to fail” entered the political discourse, the most obvious question has been, if a financial institution is too big, to dangerous to the economy to allow it to fail willy nilly, isn’t it too big to exist? Why aren’t we breaking up these threatening monsters?

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