Tag: big banks

For banksters like Goldman Sachs, federal criminal settlements are just a cost of doing business.

There’s only one way to protect the global economy from the dangers of too-big-to-fail banks: Break them up.

“As Greenwald said, Hillary’s the very model of the type of politician that the five Republicans on the U.S. Supreme Court were trying to empower. The suckers whose votes she gets are fooled merely by her labeling herself a ‘Democrat’ and slinging the type of bumper-sticker phrases that draw Democratic suckers instead of Republican ones.”

“Despite the evidence, many people still see these banks and the people who run them as respectable corporate citizens. In the words of that unnamed Goldman Sachs executive: If they only knew.”

If Bernie Sanders wants to stick it to the Big Banks, having the SSA start its own credit card department would be one way to go.

The bottom line: Regulation won’t end the Street’s abuses. The Street has too much firepower. And because it continues to be a major source of campaign funding, no set of regulations will be tough enough.

When reasonable Republicans and Democrats begin to converge on policy, we are more likely to get sensible change.

After seven years of benefiting from the greatest transfer of wealth in history, the U.S. banking industry topped it off with record profits in 2015.

Have Democrats gone from “Yes we can,” to “We shouldn’t even try?"

Iceland just sentenced their 26th banker to prison for his part in the 2008 economic collapse. The charges ranged from breach of fiduciary duties to market manipulation to embezzlement.