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A move to break up major Wall Street banks failed Thursday night by a vote of 61 to 33.
The amendment [...] would have required megabanks to be broken down in size and capped so that their individual failure would not bring down the entire system.
In practice, the amendment required the six biggest banks -- Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley -- to significantly scale down their size. It was touted as a way to end Too Big To Fail.
Last-minute maneuvering in the Senate allowed the Federal Reserve to sidestep legislation that would have exposed its interest-rate decision-making to congressional auditors.
Pressure from the Obama administration led Senate lawmakers to alter a provision pushed by Sen. Bernie Sanders (I., Vt.) that was gaining momentum despite opposition from the Treasury and the Fed. It would have largely repealed a 32-year-old law that shields Fed monetary policy from congressional auditors.
Originally posted by kozmo
I want... no, I NEED to see the vote roll so that I know exactly which Senators to campaign against!!!
I have to wonder... how much in campaign contributins did it take to buy those Senators? Until money is removed from the election equation, people can expect to see more and more and more of this same crap!
Pressure from the Obama administration led Senate lawmakers to alter a provision pushed by Sen. Bernie Sanders (I., Vt.) that was gaining momentum despite opposition from the Treasury and the Fed. It would have largely repealed a 32-year-old law that shields Fed monetary policy from congressional auditors.
Originally posted by kozmo
I want... no, I NEED to see the vote roll so that I know exactly which Senators to campaign against!!!
Originally posted by poedxsoldiervet
reply to post by serbsta
Wait a minute you guys are wanting the Federal Government to break up banks? Even though they do not hold a monoply?
Originally posted by Ouroborus2012
Dude, why waste your time campaigning for any of those douche bags.
It's kinda like TV wrestling... They stand up and vote and talk crap on each other for the TV and then when the show's over, they go backstage, drink wine and congratulate each other on being masters of the universe.
Maybe it's just me... But, I think "democracy" is simply the illusion of choice. Another form of control to keep the sheeple happy.
BTW, don't take that as a personal shot against you... it certainly wasn't!
The top 12 banks in the U.S. control half the country's deposits. By comparison, it took 25 banks to accomplish this feat in 2003 and 42 banks in 1998, according to a Jan. 4 research note by Jason M. Goldberg of Barclays Capital.
Originally posted by cenpuppie
Originally posted by Ouroborus2012
That pretty much sums it up. Politics works in clique's. It's all about who you know, support, and get supported by.
A farce if you think about. If each representative was actually doing their job the government wouldn't be this big...and ths country won't be in the position it's in.
I wonder how long it's gonna be before it blows up in our faces..
In reality, it only blows up in our faces when it's scheduled to.. Nothing HAS to blow up, if they need money they simply print more. It goes this way across the world really... In my opinion, whatever is going on right now is going on because it's supposed to be going on. Whatever agenda is being served and we simply do nothing about it..
The sheeple are all happy. The powers give a little here, take a lot there...The sheeple are quelled as TPTB make them think their particular political party is doing the right thing .. Give them ridiculous TV shows that generate a "reality" that doesn't exist... Give them "news" that is bias to their feelings instead of truth.. Eek out technology so whatever country it is can tout its "technological superiority" over the universe and leave the sheeple in awe... Release some fake terrorist video every now then to instill more fear and hatred, whenever the the sheep start to wake up a bit and look around.. Meanwhile, they plunder, spread war instead of peace, suck our pockets dry, hide greater technology, create weapons to kill instead of help, ensure that we forget that we are a world of sentient beings and take away our inherent freedoms as HUMAN BEINGS... it's sickening
Unfortunately, this is the reality we live in. People are beginning to wake up but we still don't realize that we outnumber them and
we are the only ones who can make things change... Perhaps somebody the world will find a way to unite and make this the planet and our species what it deserves to be!
Until then, i'll simply enjoy sitting on the sideline and watching the sideshow with the rest of you other fine people on ATS who have taken the red pill!!
Originally posted by poedxsoldiervet
reply to post by serbsta
Wait a minute you guys are wanting the Federal Government to break up banks? Even though they do not hold a monoply? Ummmmm Are you serious?
Instead of breaking them up let them fail, dont bail there asses out anymore.... Now thats American, I am glad this bill failed, (except for the audit the fed) the government has to much damn power.... No more bailouts let them fail.