Comments on: The Too Big to Fail, Too Big to Exist Act of 2009 http://baselinescenario.com/2009/11/09/the-too-big-to-fail-too-big-to-exist-act-of-2009/ What happened to the global economy and what we can do about it Fri, 10 Feb 2012 23:19:23 +0000 hourly 1 http://wordpress.com/ By: Assassin http://baselinescenario.com/2009/11/09/the-too-big-to-fail-too-big-to-exist-act-of-2009/#comment-33814 Sat, 14 Nov 2009 13:05:38 +0000 http://baselinescenario.com/?p=5439#comment-33814 Haven’t you heard? President Obama and Candidate Obama are one in the same:

http://www.huffingtonpost.com/david-plouffe/president-obama-and-candi_b_343985.html

We know it’s true because Obama’s campaign manager tells us so.

]]> By: John Komlos http://baselinescenario.com/2009/11/09/the-too-big-to-fail-too-big-to-exist-act-of-2009/#comment-33808 Sat, 14 Nov 2009 07:52:41 +0000 http://baselinescenario.com/?p=5439#comment-33808 One of the problem is that Pres. Obama is surrounded by conventional thinkers. I mean, when was the last time Tim Geithner had lunch with an unemployed person in a main street eatery? Could anyone explain to me how Pres. Obama became so different from candidate Obama?
John

]]> By: Pez Dispenser http://baselinescenario.com/2009/11/09/the-too-big-to-fail-too-big-to-exist-act-of-2009/#comment-33701 Fri, 13 Nov 2009 01:03:13 +0000 http://baselinescenario.com/?p=5439#comment-33701 You must first “clean house” at the Treasury Department.

]]> By: Jerry http://baselinescenario.com/2009/11/09/the-too-big-to-fail-too-big-to-exist-act-of-2009/#comment-33559 Wed, 11 Nov 2009 11:15:57 +0000 http://baselinescenario.com/?p=5439#comment-33559 Sadly, the “or else” is already there. If an institution is not included on the “list”, and left to operate as it has been operating, what happens when fails and we then find it was “too big to fail”? Would we then have to draw and quarter the person responsible for the “list”?

What seems to be an appropriately conservative position would be to return to the legal structure that existed when we didn’t have to worry about the financial system itself being toxic.

]]> By: jkiss http://baselinescenario.com/2009/11/09/the-too-big-to-fail-too-big-to-exist-act-of-2009/#comment-33548 Wed, 11 Nov 2009 03:03:07 +0000 http://baselinescenario.com/?p=5439#comment-33548 Great point, this is both the key issue and the logical way to put the option to banks. However, no bank would choose the break up option, assuming that when push comes to shove they will retain their position at the trough.

Accordingly, a better way out of the box is to say that all banks that received funds in this crisis must be (according to both this and the prior administration) by definition too big to fail – after all, the FDIC has allowed all banks under its supervision to fail regardless of size. This, too brings us to an impasse – this list includes Goldman, there is no chance that such a definition will be used.

]]> By: secularist10 http://baselinescenario.com/2009/11/09/the-too-big-to-fail-too-big-to-exist-act-of-2009/#comment-33530 Tue, 10 Nov 2009 23:33:55 +0000 http://baselinescenario.com/?p=5439#comment-33530 Good to see there’s still some common sense in government, even in the Senate. Unfortunately, I fear the institutional bias of the Congress is such that real, effective reform is an impossible dream. The Democrats are in the pocket of Wall Street, and if the Dems won’t impose some common sense solutions, the “free market” Republicans sure won’t.

]]> By: cougar_w http://baselinescenario.com/2009/11/09/the-too-big-to-fail-too-big-to-exist-act-of-2009/#comment-33502 Tue, 10 Nov 2009 19:29:21 +0000 http://baselinescenario.com/?p=5439#comment-33502 This bill is media disguised as legislation. Sanders couldn’t get anyone in the media to stand up to the banks and just say what everyone is thinking, that too big to fail is too big to exist. He probably can’t even hold a press conference and have anyone show up and report that someone thinks too big to fail is too big to exist.

But Sanders can craft a bill. And he can title it what he likes. And the MSM pretty much have to report it as such.

Kinda funny.

cougar

]]> By: cougar_w http://baselinescenario.com/2009/11/09/the-too-big-to-fail-too-big-to-exist-act-of-2009/#comment-33501 Tue, 10 Nov 2009 19:23:44 +0000 http://baselinescenario.com/?p=5439#comment-33501 Mortality is healthy. Good things should die. The things that never die turn out to be evils.

]]> By: Bayard http://baselinescenario.com/2009/11/09/the-too-big-to-fail-too-big-to-exist-act-of-2009/#comment-33467 Tue, 10 Nov 2009 05:16:35 +0000 http://baselinescenario.com/?p=5439#comment-33467 I hereby nominate Bernie Sanders to replace Tim Geithner, and Elizabeth Warren to head a new cabinet department entitled “The Fairness to Mainstreet Department” with the power to disallow any economic and financial practices which may be considered a threat to the ordinary citizen.

]]> By: some guy in a cube http://baselinescenario.com/2009/11/09/the-too-big-to-fail-too-big-to-exist-act-of-2009/#comment-33463 Tue, 10 Nov 2009 03:19:17 +0000 http://baselinescenario.com/?p=5439#comment-33463 Please, people, can we debate the merits of Sanders’ bill AFTER this year’s bonuses are paid out, OK?

]]> By: DavosSherman http://baselinescenario.com/2009/11/09/the-too-big-to-fail-too-big-to-exist-act-of-2009/#comment-33459 Tue, 10 Nov 2009 02:15:37 +0000 http://baselinescenario.com/?p=5439#comment-33459 Oh, I’m all for TBTF being total BS. Having said that I can’t wait to see how they plan on defusing 200 trillion in derivatives that the big banks hold.

Health Care and now this.

F*&#ing genuses up there.

]]> By: Min http://baselinescenario.com/2009/11/09/the-too-big-to-fail-too-big-to-exist-act-of-2009/#comment-33453 Mon, 09 Nov 2009 23:12:43 +0000 http://baselinescenario.com/?p=5439#comment-33453 Was Increase Mather too big to fail?

;)

]]> By: The pragmatist http://baselinescenario.com/2009/11/09/the-too-big-to-fail-too-big-to-exist-act-of-2009/#comment-33441 Mon, 09 Nov 2009 22:04:24 +0000 http://baselinescenario.com/?p=5439#comment-33441 I am doing my part. Besides moving my money I am posting comments encouraging people. I also sent out a mass e-mail to one of those mailing lists that forwards me every right wing criticism of government.

]]> By: 3-D http://baselinescenario.com/2009/11/09/the-too-big-to-fail-too-big-to-exist-act-of-2009/#comment-33439 Mon, 09 Nov 2009 21:20:12 +0000 http://baselinescenario.com/?p=5439#comment-33439 I care enough to sign it, but I still doubt that internet petitions hold *any* significance on any issue to this day. For some reason the reduced amount of effort required to create, promote, and sign one seems to make people unwilling to take them seriously. It’s like peoples’ genuine heartfelt opinions are somehow less valid on a computer screen.

]]> By: btraven http://baselinescenario.com/2009/11/09/the-too-big-to-fail-too-big-to-exist-act-of-2009/#comment-33438 Mon, 09 Nov 2009 20:57:14 +0000 http://baselinescenario.com/?p=5439#comment-33438 Love the bill – except for giving the Treasury Sec the power to create the list.

And, being realistic – TBTB will NEVER let this happen.

We are doomed. Just best to prepare oneself for the collapse that has already started.b

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