Eric Holder: Some Banks Are So Large That It Is Difficult For Us To Prosecute Them

[rapbeats]

Stop rationalizing this man, NOT doing his job. During the S&L crises of the 80's MANY people went to jail (not enough, and not the most culpable ones though), did the world end? No, it didn't.

New Laws? Get real. There are laws right now that the banks have skirted without repercussion. . . Repeat. . . There are laws on the books RIGHT NOW that the banks have skirted without any punishment. There's only one way to get this done, and it means throwing criminals who steal money in jail. . . THERE IS NO OTHER WAY!!!!

thats fine. but until you realize its not just a few big heads at the top . its thousands of people involved. not 100's. THOUSANDS. not only that, shady money is tied up with regular people. regular people's money is also tied up in shady bank arrangements.

its like what you found out your 401k was all tied up in the russian mafias businesses. sure they can take the entire mafia to jail and shut it down. what would happen to your money in the process? this is where the "to big to fail" comes in. because we let these fools skirt for so long and grow so large. we created this monster. sure if you reallly want to fix it. you can send everyone to jail. but doing so you will also have to tell the layman "sorry sir you just lost your money because it was based on BS sort of like a ponzi scheme you didnt think was a ponzi scheme. yep that means your entire life savings is gone. sorry about that. but hey at least the criminals are in jail forever.

are you ready and willing to do that?

 

[Silver Surfer]

politician politicin

 

[Jello Biafra]

I love this broad:

Elizabeth Warren Takes On Eric Holder's 'Too Big To Jail' Statement

Sen. Elizabeth Warren (D-Mass.) took on Attorney General Eric Holder's admission that some banks are too big for the Justice Department to prosecute, asserting that Holder's statement illustrates why the financial institutions should be held accountable.

“It has been almost five years since the financial crisis, but the big banks are still too big to fail," Warren said in a Wednesday statement. "That means they are subsidized by about $83 billion a year by American taxpayers and are still not being held fully accountable for breaking the law. Attorney General Holder’s testimony that the biggest banks are too-big-to-jail shows once again that it is past time to end too-big-to-fail."
Since entering office in January, Warren has made a splash on Capitol Hill as a member of the Senate Banking, Housing and Urban Affairs Committee. Last week, the freshman senator pressed Federal Reserve Chairman Ben Bernanke on whether the government would get tough on the "too big to fail" institutions.

"Big banks are getting a terrific break, and little banks are just getting smashed," Warren said.

Earlier in February, Warren took bank regulators to task over the lack of trials for Wall Street banks.

"There are district attorneys and United States attorneys out there every day squeezing ordinary citizens on sometimes very thin grounds and taking them to trial in order to make an example, as they put it," she said. "I'm really concerned that 'too big to fail' has become 'too big for trial.'"

 

[rapbeats]

I love this broad:

Elizabeth Warren Takes On Eric Holder's 'Too Big To Jail' Statement

now with the above article i say our only course to righting the ship as much as we can is this. never again allow banks to get to big to fail/jail. that means slowly but surely start breaking them up and taking apart their networks where they are all in cahoots. but its a slow process. not a "JAIL EM ALL" process that wouldnt devastate all of us.

in addition, what that article says about how the little people always get made examples of in court when we are late on payments or do something a bit shifty/shady. so in fairness. we wont jail you, so that means you cant jail me. if i cant convict you mr and mrs big bank. you cant go after me. now i will sign a paper and say no more shifted and shady behavior from this point forward. but anything in the past is forgiven. that also means this. lets say i owe 100k on student loans. but i havent paid a dime. you cant come garnish my check to get it. you cant take my house, etc. what we can do is work out a payment plan. and really cheap payment plan. something like what if i paid you $10.00 a month until its paid off. the next time i get a 50k raise, then i'll raise that to $20.00 per month. now thats about as fair as it can get. thats some legislation i'm down with.

 

[Family Man]

I don't like Eric Holder at all as AT. He's only willing to work in behalf of the status quo and not make progressions in US policy and justice.

Just like his boss huh?

 

[Brown_Pride]

correct me if i'm wrong but couldn't we toss the CEO's and VP's and anyone else who knowledgeably exercised any policies that were criminal in jail WITHOUT the banks failing? You jail the captain not the boat right?

 

[Robbie3000]

fukking bytch ass democrats. And people act as if its only the republicans are evil. BOTH THESE HIDEOUS PARTIES ARE THE SAME YOU fukkS. Their is no such thing as the lesser of two evils. I hope you progressives are paying attention.

Very simplistic take, but then you have decided to go full retard on us.

What happened to the podcast HHL4E?

 

[Dusty Bake Activate]

I love this broad:

Elizabeth Warren Takes On Eric Holder's 'Too Big To Jail' Statement

Hopefully she doesn't catch a Kennedy.

 

[john goodman]

How many billions of laundered drug money does it take to shut down a bank ?


How Many Billions Of Drug-Laundered Money Does It Take To Shut Down A Bank? | Zero Hedge

 

[Jello Biafra]

Hopefully she doesn't catch a Kennedy.

I think she will definitely be on the short list of VP candidates for the Dem nominee in 2016.

 

[rapbeats]

correct me if i'm wrong but couldn't we toss the CEO's and VP's and anyone else who knowledgeably exercised any policies that were criminal in jail WITHOUT the banks failing? You jail the captain not the boat right?

yes you could do that. the problem is, the boat is just as shady as the captain.

its a disease that is in all the money now. if you do it RIGHT and ethical. regular folks like us that actually invest and have businesses depending on loans from these folks, etc. people would really be hurting if the hammer came down correctly. basically what i'm saying is we have been playing with monopoly money for a long time. and since the economy is so bad(since one of the monopoly bubbles popped), we cant afford to burst the entire thing. at least not all at once like that. like i said, best action would be to slowly break these banks up and what assets they are allowed to hold. to stop them from being "TO BIG TO FAIL."/be jailed.

while doing this, these banks cant go after the little people (us) and drag us in court over pennies if we cant drag them to court over billions. fair is fair. so in other words, they will have to take those loses. at least for now. there needs to a period where the little man needs to get completely let off the hook since we know these banks , finance folks were trying to dupe us all and have been rolling in insane case because of unethical practices. thats how you make things as right as you possibly can for now.

 

[Brown_Pride]

yes you could do that. the problem is, the boat is just as shady as the captain.

its a disease that is in all the money now. if you do it RIGHT and ethical. regular folks like us that actually invest and have businesses depending on loans from these folks, etc. people would really be hurting if the hammer came down correctly. basically what i'm saying is we have been playing with monopoly money for a long time. and since the economy is so bad(since one of the monopoly bubbles popped), we cant afford to burst the entire thing. at least not all at once like that. like i said, best action would be to slowly break these banks up and what assets they are allowed to hold. to stop them from being "TO BIG TO FAIL."/be jailed.

while doing this, these banks cant go after the little people (us) and drag us in court over pennies if we cant drag them to court over billions. fair is fair. so in other words, they will have to take those loses. at least for now. there needs to a period where the little man needs to get completely let off the hook since we know these banks , finance folks were trying to dupe us all and have been rolling in insane case because of unethical practices. thats how you make things as right as you possibly can for now.

I don't think you'll ever see a day where the little guy is let off the hook in mass, anymore than you'll see entire banks fail.

IMHO surgically removing some of the cancer (greedy management) is the only reasonable approach that doesn't cause a world wide financial meltdown. I also think there needs to be a mechanism by which to revalue some of the properties at the root of this problem.

The problem right now is that thought the bubble burst, it's quickly on it's way to inflating again. House prices are going back up to pre burst levels, which we've already shown is unsustainable. The reason they are staying hi is because the banks have these homes listed for their inflated prices on their books. What bank is going to want to take a loss of 20-50% per home? There's no simple way out of this, but if done in small steps we certainly can make things better.

Start off by symbolically saying, "we're not playing like this no more" and toss some of these crooked as bank CEO's in jail.

 

[Black smoke and cac jokes]

yes you could do that. the problem is, the boat is just as shady as the captain.

its a disease that is in all the money now. if you do it RIGHT and ethical. regular folks like us that actually invest and have businesses depending on loans from these folks, etc. people would really be hurting if the hammer came down correctly. basically what i'm saying is we have been playing with monopoly money for a long time. and since the economy is so bad(since one of the monopoly bubbles popped), we cant afford to burst the entire thing. at least not all at once like that. like i said, best action would be to slowly break these banks up and what assets they are allowed to hold. to stop them from being "TO BIG TO FAIL."/be jailed.

while doing this, these banks cant go after the little people (us) and drag us in court over pennies if we cant drag them to court over billions. fair is fair. so in other words, they will have to take those loses. at least for now. there needs to a period where the little man needs to get completely let off the hook since we know these banks , finance folks were trying to dupe us all and have been rolling in insane case because of unethical practices. thats how you make things as right as you possibly can for now.

I don't think you'll ever see a day where the little guy is let off the hook in mass, anymore than you'll see entire banks fail.

IMHO surgically removing some of the cancer (greedy management) is the only reasonable approach that doesn't cause a world wide financial meltdown. I also think there needs to be a mechanism by which to revalue some of the properties at the root of this problem.

The problem right now is that thought the bubble burst, it's quickly on it's way to inflating again. House prices are going back up to pre burst levels, which we've already shown is unsustainable. The reason they are staying hi is because the banks have these homes listed for their inflated prices on their books. What bank is going to want to take a loss of 20-50% per home? There's no simple way out of this, but if done in small steps we certainly can make things better.

Start off by symbolically saying, "we're not playing like this no more" and toss some of these crooked as bank CEO's in jail.

Well, first of all, the government haven't done anything to limit the financial holdings of these banks. The subsidies during the recession were to increase banks reserve holdings which would later increase the money supply by a large output of loans/investments. What banks did instead was to continue circulating the money in the system and increase their excessive reserves to an amount waaaaay over the reserve ratio.

So when Eric Holder comes out and make comments like this just shows his b!tch made personality and him being scared of going against banks that can afford excellent legal representation which could diminish the fukkers' credibility in court. Dude is scared to lose his reputation.

Taking down the top management WOULD NOT damage the economy to the extent where it harms individuals/small businesses. The problem is the current holding of a massive amount of excessive reserves, money that should be in the economy but is held by banks to further their ability to protect themselves from monetary policies. The FED needs to lower the reserve ratio, force banks to loan out the money (China style) and let these banks go back to being reliant on citizens' loans.

Banks are currently too big because they have too much money; money coming from taxpayers instead of loans. THAT IS THE PROBLEM!

 

[rapbeats]

Well, first of all, the government haven't done anything to limit the financial holdings of these banks. The subsidies during the recession were to increase banks reserve holdings which would later increase the money supply by a large output of loans/investments. What banks did instead was to continue circulating the money in the system and increase their excessive reserves to an amount waaaaay over the reserve ratio.

So when Eric Holder comes out and make comments like this just shows his b!tch made personality and him being scared of going against banks that can afford excellent legal representation which could diminish the fukkers' credibility in court. Dude is scared to lose his reputation.

Taking down the top management WOULD NOT damage the economy to the extent where it harms individuals/small businesses. The problem is the current holding of a massive amount of excessive reserves, money that should be in the economy but is held by banks to further their ability to protect themselves from monetary policies. The FED needs to lower the reserve ratio, force banks to loan out the money (China style) and let these banks go back to being reliant on citizens' loans.

Banks are currently too big because they have too much money; money coming from taxpayers instead of loans. THAT IS THE PROBLEM!

thats not a reason to go to court. because we allowed them to do this. when you write up things you have to write them up with as little holes in them as possible. these people have worked decades finding loopholes and jumping thru them. as good as holder may think he is, wont matter vs people who are GURU's at the game. thats the truth that non of us want to realize. how many times do you have to hear "ya know, i'm in finance and i cant even figure out these products.." you heard bankers, economist, finance guys saying that about that shady stuff they had going on during the bubble. so if you have a small batch of people who know how to work the numbers, and a few lawyers who know how to work the angles on the laws. guess what, unless the US govvy has one of those guys in their corner(which we dont) you aint winning in court with the really BIG BIG guys. you're just not going to. and you will waste millions more of tax payer dollars to lose. you ready to do that?

yes you are correct, E. holder would get embarrassed by these guys. so why even sign up? just to say "well we tried" while blowing 100's of millions. NO thank you. what they can do is come up with something new like what i proposed above.

 

[Black smoke and cac jokes]

thats not a reason to go to court. because we allowed them to do this. when you write up things you have to write them up with as little holes in them as possible. these people have worked decades finding loopholes and jumping thru them. as good as holder may think he is, wont matter vs people who are GURU's at the game. thats the truth that non of us want to realize. how many times do you have to hear "ya know, i'm in finance and i cant even figure out these products.." you heard bankers, economist, finance guys saying that about that shady stuff they had going on during the bubble. so if you have a small batch of people who know how to work the numbers, and a few lawyers who know how to work the angles on the laws. guess what, unless the US govvy has one of those guys in their corner(which we dont) you aint winning in court with the really BIG BIG guys. you're just not going to. and you will waste millions more of tax payer dollars to lose. you ready to do that?

yes you are correct, E. holder would get embarrassed by these guys. so why even sign up? just to say "well we tried" while blowing 100's of millions. NO thank you. what they can do is come up with something new like what i proposed above.

There's no illegal dealings in holding an excessive amount of reserves, I didn't say that. BUT, as we all know, HSBC and Barclay's have both aided criminals in their money laundering and, knowingly, committed fraud. I therefore brought up the excessive amount of reserves and said that we can drain the banks of their resources by forcing them to make loans. China has this policy, there is no real free market with banks. The government offers to buy some bonds, the banks get the money, and then are forced to make loans.

That is the first step the U.S. government should take. THEN, when they have implemented these monetary changes, they should prosecute the banks who have committed fraud and held accounts for drug lords.

And your point on the taxpayers losing a lot of their money. THEY ARE ALREADY LOSING THEIR MONEY. The low interest rates are not benefiting anyone since banks are unwilling to give out the proportion of loans which are expected by economists' theories. On top of that, a large amount of tax is already being spent, or was spent, on buying up bonds from banks to keep them in business. What many people are missing is that we are already losing money, we are already spending a large amount of money on fixing the economy by aiding banks. Reallocate the funds to prosecuting these a$$holes that are taking advantage of the FED's leniency.