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10 moderate Dems rolling back Dodd-Frank

When the largest benefactors to a bill are banks that have assets in the $50-250 billion range, the bill isn't about community banks.
 
avalon said:
When the largest benefactors to a bill are banks that have assets in the $50-250 billion range, the bill isn't about community banks.
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Yes, but the Professional Managerial Class would have us all ignore this, and the teachers strikes. The boardroom bourgeosie have all the money stuff under control. We don't need to see it on the news, and we don't need to debate about it. We peasants need to stick to the bread and circuses of our daily Trump Twitter and porn stars and Russia and whatever the fuck, and blindly pull the right lever when it's lever pulling time. I mean, its not as if the 2008 recession caused the greatest loss of minority wealth in world history - who cares, won't happen again, the finance majors got this.
 
We good and wise Democrats need only concern ourselves with the dangers of white nationalists and mass shootings, both about as personally dangerous as lightning strikes. Absolutely no reason to worry about the financial security of the majority of Americans whom don't have 500 dollars in savings and rely on their hourly shift employers in right-to-work states to provide their health care. Yeah. Lets pick our battles.
 
myDeaconmyhand said:
We good and wise Democrats need only concern ourselves with the dangers of white nationalists and mass shootings, both about as personally dangerous as lightning strikes. Absolutely no reason to worry about the financial security of the majority of Americans whom don't have 500 dollars in savings and rely on their hourly shift employers in right-to-work states to provide their health care. Yeah. Lets pick our battles.
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Is Big Business Really That Bad?
Large corporations are vilified in a way that obscures the innovation they spur and the steady jobs they produce.
 
myDeaconmyhand said:
Can you be clear as to whether you are defending the good of economic innovation or whether you are defending the supposed inevitability of economic barbarism?

I refuse to subscribe to the notion that innovation requires vast wealth inequality and the economic suffering of the working class.
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Glad to see you are for anti-trust cases being brought against the likes of Amazon
 
Lectro said:
Glad to see you are for anti-trust cases being brought against the likes of Amazon
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Yes, I believe corporate monopoly regulations need to be much stricter I believe most large corporate mergers, especially in banking, healthcare, and telecom should be disallowed. I also believe that monopsony of employers is just as big a problem in class division and wealth inequality in this country. The complete lack of competition for labor drives down income and wages.
 
 
 
myDeaconmyhand said:
Yes, I believe corporate monopoly regulations need to be much stricter I believe most large corporate mergers, especially in banking, healthcare, and telecom should be disallowed. I also believe that monopsony of employers is just as big a problem in class division and wealth inequality in this country. The complete lack of competition for labor drives down income and wages.
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It's not too often that I get to say that I agree with MDMH...this is one.
 
Love it when shitty ass Joy Reid plays dumb
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Big Bank Custody Fight

Tucked into Banking Chairman Mike Crapo’s legislation is a directive to federal agencies to amend the “supplementary leverage ratio” for custodial banks by excluding deposits at a central bank. Custodial banks secure assets for clients such as large institutional investors and fund managers.

At first glance, this provision would appear to apply only to Boston-based State Street , Chicago’s Northern Trust and Bank of New York Mellon . But Citigroup and J.P. Morgan also offer custodial services and are trying to join the party. You can bet others will want in too. “As Congress has sought to make a common sense change to the way capital rules treat custody assets, we have asked that they apply that change to all custody banks to maintain a level playing field in this important business,” a Citi spokesman said last week.

As we saw during the crisis, financial regulators are poor judges of risk. Banks had piled into investments that regulators deemed low risk such as mortgage-backed securities and sovereign debt that let them meet capital standards even while remaining highly leveraged. You know how that worked out.
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Not a take I was expecting from the WSJ Editorial Board, but here we are.

Apparently Corker has introduced an amendment to tighten up the language on the custody banks to keep Citi and JPMorgan from taking advantage. I'm not sure how they are dealing with amendments since over 100 have been filed.
 
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