Economy

tclambert

(11,085 posts)

30. Sen. Bernie Sanders and Rep. Brad Sherman introduced "Too Big to Fail" legislation

Wed Apr 10, 2013, 11:20 AM

Apr 2013

Lawmakers push bill to break up too-big-to-fail banks

Sanders and Rep. Brad Sherman (D-Sherman Oaks) are pushing their "Too Big to Fail, Too Big to Exist Act" to eliminate the potential for future bailouts.

The bill would give the Treasury Department 90 days to identify any companies -- including banks, hedge funds and other firms -- whose "failure would have a catastrophic effect on the stability of the financial system or the United States economy without substantial government assistance."

Treasury then would be required to break up those companies.
_______________________________________________

http://www.latimes.com/business/money/la-fi-mo-break-up-banks-fail-bailout-sanders-20130409,0,3824994.story

Edit history

Please sign in to view edit histories.

35 replies

= new reply since forum marked as read

Highlight:

STOCK MARKET WATCH -- Wednesday, 10 April 2013 [View all] Tansy_Gold Apr 2013 OP

That cartoon is wishful thinking Demeter Apr 2013 #1

"Thatcher's Stock Market Was Best Boom in 50 Years" Hotler Apr 2013 #2

I see the future, and it doesn't look good Demeter Apr 2013 #3

'Break Up The Banks' Bill Gains Steam In Senate As Wall Street Lobbyists Cry Foul Demeter Apr 2013 #4

Secrecy for Sale: Inside the Global Offshore Money Maze Demeter Apr 2013 #5

Global tax dodgers exposed UPDATED REGULARLY--MORE DETAIL Demeter Apr 2013 #6

And in the US, the Department of Justice remains under the steady leadership of the leadership. westerebus Apr 2013 #16

The Way Forward is a Single-Issue Social Security Defense Party By Dave Lindorff Demeter Apr 2013 #7

Social Security: Can Democrats Save Obama From Himself? Demeter Apr 2013 #9

7 Chilling Facts About US Retirement That Should Make Obama Tremble Before Cutting SS, Medicare Demeter Apr 2013 #10

Have Wall Street's "Third Way" Democrats Ever Been Right About Anything? By Richard (RJ) Eskow Demeter Apr 2013 #11

The first vote I cast for Obama.... AnneD Apr 2013 #24

You should Xpost this to GD Doctor_J Apr 2013 #31

Please do! Demeter Apr 2013 #33

Daddy's Been Arrested: The Arrogance of America's Financial Criminals on Full Display Demeter Apr 2013 #8

I am going to weigh in here.... AnneD Apr 2013 #29

You know what F. Scott Fitzgerald said: Demeter Apr 2013 #35

Video Hidden Treasure: Inside an Underground Swiss Vault DemReadingDU Apr 2013 #12

Brussels warns on Spanish and Slovenian 'imbalances' muriel_volestrangler Apr 2013 #13

KYLE BASS: On Friday, The Market Gave Us The First Glimpse Of The Japan Blowup xchrom Apr 2013 #14

Explosive Report Shows That Cypriots Are Five Times Richer Than Germans xchrom Apr 2013 #15

Germany's been exploiting their traumatized workers FOR YEARS--DECADES EVEN! Demeter Apr 2013 #18

that's what i thought. i couldn't figure out why this would be 'news'. nt xchrom Apr 2013 #19

The Corporate Betrayal of US -- Ripping off the Public, Running off with the Profits to Avoid Taxes Demeter Apr 2013 #17

germany's choice by george soros xchrom Apr 2013 #20

I'm not sure it would be such a big tragedy for anyone Demeter Apr 2013 #32

Next Domino?: Slovenia Totters Toward Euro-Crisis Brink xchrom Apr 2013 #21

Harvard Economist: 'The Crisis Isn't Over in the US or Europe' xchrom Apr 2013 #22

So gratifying to have independent confirmation Demeter Apr 2013 #34

Brain Drain: 120,000 Professionals Leave Greece Amid Crisis xchrom Apr 2013 #23

Cyprus Can Save Itself by Fleeing the Euro xchrom Apr 2013 #25

Spending cuts and tax increases should continue, watchdog says{ireland} xchrom Apr 2013 #26

Ministers welcome troika recommendation to extend Ireland’s bailout repayments xchrom Apr 2013 #27

Bank Rally in U.S. Seen Fading as Revenue Trails 35% Profit Jump xchrom Apr 2013 #28

Sen. Bernie Sanders and Rep. Brad Sherman introduced "Too Big to Fail" legislation tclambert Apr 2013 #30