What Do You Mean – Too Big To Fail?

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There is too much wealth concentrated in too few banks. Look at 1998… Ah, the consequences of the Glass-Steagal repeal. And you wonder why the dolts in Congress didn’t even consider bringing that back. Too damned hard untangling this mess! Can you imagine all those campaign funds they would lose out on? This is one reason I will never belong to another political party. The problem here is right under their noses, but they are so bought off that they will not change the system because the system ownes them.

PS. One of the causes of the Great Depression was that banks cross mingled investments from different areas – stock market investments were co-mingled with business investments. When the stock market crashed, so too did business funds. It is exactly the same thing that happened with the mortgage bust in 2007. Those poison investments were intertwined with everything else. For over 60 years, Glass-Steagal helped to prevent that. Now, with it’s repeal, TARP, and the other bail-out, that investment co-mingling is more than even a feature of the system. When Europe goes bust – not if, but when – we are screwed, even more than we are now!!!!!

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