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Thread: Elizabeth Warren Gameplan: Break Up the Major Banks

  1. #1

    Elizabeth Warren Gameplan: Break Up the Major Banks

    Exclusive: Upset by Warren, U.S. banks debate halting some campaign donations
    Mar 27, 2015

    (Reuters) - Big Wall Street banks are so upset with U.S. Democratic Senator Elizabeth Warren's call for them to be broken up that some have discussed withholding campaign donations to Senate Democrats in symbolic protest, sources familiar with the discussions said.

    Representatives from Citigroup, JPMorgan, Goldman Sachs and Bank of America, have met to discuss ways to urge Democrats, including Warren and Ohio Senator Sherrod Brown, to soften their party's tone toward Wall Street, sources familiar with the discussions said this week.
    http://www.reuters.com/article/2015/...0MN0BV20150327

    Warren fires back at banks halting donations to Democrats
    March 27, 2015

    WASHINGTON -- Senator Elizabeth Warren took aim at Wall Street on Friday after two banks reportedly decided to halt campaign contributions to Senate Democrats unless Warren and Senator Sherrod Brown of Ohio tone down their rhetoric on breaking up large financial institutions.

    “They can threaten or bully or say whatever they want, but we aren’t going to change our game plan,” Warren wrote to her supporters. “We do, however, need to respond.”

    Warren asked her supporters to help raise the $30,000 that JPMorgan Chase and Citigroup are allegedly saying they would withhold from the Democratic Senatorial Campaign Committee. Each bank can contribute $15,000 to the committee through their corporate PACs per year.

    Warren’s message went to her campaign e-mail list, which can yield $100,000 in contributions from one fundraising plea.
    http://www.bostonglobe.com/news/poli...FpL/story.html
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  3. #2
    Breaking up the banks is like breaking up monopolies. There's no understanding that intervention is what first creates the problem they want to solve with more intervention.

  4. #3
    Or here's a crazy idea, stop supporting and bailing out the "too big to fail" banks so that they can be the ones who die instead of causing the smaller banks to die and absorb into them.

    Crazy I know. It seems much smarter to break them up and ignore all the reasons they got that way.
    I'd rather be a free man in my grave, than be living as a puppet or a slave - Peter Tosh

    The kids they dance and shake their bones,
    While the politicians are throwing stones,
    And it's all too clear we're on our own,
    Singing ashes, ashes, all fall down...

  5. #4
    Liz may not survive until the election.

  6. #5
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    This is the same lady that wants to protect the Federal Reserve right?
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  7. #6
    Run Liz Run.

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  8. #7
    moar banks =moar bank parasites hired...thanks for NOTHING

    why I should worship the state (who apparently is the only party that can possess guns without question).
    The state's only purpose is to kill and control. Why do you worship it? - Sola_Fide

    Baptiste said.
    At which point will Americans realize that creating an unaccountable institution that is able to pass its liability on to tax-payers is immoral and attracts sociopaths?

  9. #8
    How will Elizabeth Warren win if she has no donor support?


    Where's the 56K guy when you wants sum splainin'?
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  11. #9
    She won't audit the Fed so she has no sympathies from me.

    She wants to go in and manually deconstruct massive banks and make a big mess when the reality is if you cut off their money supply they would never be so big in the first place.

  12. #10

  13. #11
    Instead of trust busting. David Vitter has a better idea. Forcing investment banks to hold significantly more in reserves would eliminate almost every problem associated with leverage.

    http://www.vitter.senate.gov/newsroo...i-announcement

  14. #12
    not a bad idea. but how?

  15. #13
    Warren is a fraud. She sold her soul for perks and power and prestige when she took a seat on the CFPB and hasn't looked back since.

  16. #14
    Quote Originally Posted by Cleaner44 View Post
    This is the same lady that wants to protect the Federal Reserve right?
    This^^^

  17. #15
    Warren is a fraud who wants to protect the true problem: the Fed

  18. #16
    Quote Originally Posted by Cleaner44 View Post
    This is the same lady that wants to protect the Federal Reserve right?
    LMAO
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  20. #17
    Quote Originally Posted by Sola_Fide View Post
    Breaking up the banks is like breaking up monopolies. There's no understanding that intervention is what first creates the problem they want to solve with more intervention.
    ^^^This

    Quote Originally Posted by Krugminator2 View Post
    Instead of trust busting. David Vitter has a better idea. Forcing investment banks to hold significantly more in reserves would eliminate almost every problem associated with leverage.
    Or you could just subject banks to market competition. Eliminate FDIC, the Fed, all barriers to entering the banking business, and any other state interventions responsible for the perverse incentives for banks to take those crazy risks in the first place.
    "Democracy is the theory that the common people know what they want, and deserve to get it good and hard."

    -H. L. Mencken



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