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senate Bill S. 1206

Breaking Up Banks That Are "Too Big to Fail"

Argument in favor

Taxpayers should never again be left footing the bill if the largest banks fail and threaten to bring the entire economy down with them. Breaking up those banks makes them more manageable and makes the financial system more stable.

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06/15/2015
"Despite the 2008 meltdown on Wall Street, just five banks still control half of the industry’s $15 trillion in assets, and not a single executive was ever convicted of a crime. We must reinstate Glass-Steagall, empower regulators to hold law-breakers accountable, and break up big banks before they break us. We need stronger protections for American families, not billion-dollar banks." [martinomalley.com]
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M. steven's Opinion
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06/07/2015
We lost everything due to the financial 'crime'. Then you bailed them out with our tax money. Still no regulations. Still no prosecutions and you take their money for your campaigns.
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Evercraft's Opinion
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07/04/2015
"Too big to fail" is code for corporations that have a gun to the public's head and thus, cannot fail without taking many of us down with them. How is that even vaguely capitalism, when the market is forced to make decisions and is afraid to offend banks and corporations? Some semblance of control has to be given back to the people.
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Argument opposed

There are economic advantages to having large banks, and small banks have fewer resources at their disposal — which can make it easier for them to fail. Plus, it’d be pretty chaotic to split some of these banks.

Keventle's Opinion
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07/03/2015
The gov. Should never bail out banks or give subsidies, this is partly why there are such few banks. If you are not happy with your money being in a big bank then move it somewhere else. We are in a serious problem if we allow the gov. to break up businesses when they find them "to big"
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PieceKeepr's Opinion
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07/02/2015
When the government decides it has the power to break up a business we are in serious trouble.
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josephlacko's Opinion
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07/03/2015
While we should not bail out banks in the event of future economic hardships, we should not preemptively break them up. When they fail, they will split up naturally.
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    "Despite the 2008 meltdown on Wall Street, just five banks still control half of the industry’s $15 trillion in assets, and not a single executive was ever convicted of a crime. We must reinstate Glass-Steagall, empower regulators to hold law-breakers accountable, and break up big banks before they break us. We need stronger protections for American families, not billion-dollar banks." [martinomalley.com]
    Like (87)
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    The gov. Should never bail out banks or give subsidies, this is partly why there are such few banks. If you are not happy with your money being in a big bank then move it somewhere else. We are in a serious problem if we allow the gov. to break up businesses when they find them "to big"
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    We lost everything due to the financial 'crime'. Then you bailed them out with our tax money. Still no regulations. Still no prosecutions and you take their money for your campaigns.
    Like (27)
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    "Too big to fail" is code for corporations that have a gun to the public's head and thus, cannot fail without taking many of us down with them. How is that even vaguely capitalism, when the market is forced to make decisions and is afraid to offend banks and corporations? Some semblance of control has to be given back to the people.
    Like (18)
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    When the government decides it has the power to break up a business we are in serious trouble.
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    While we should not bail out banks in the event of future economic hardships, we should not preemptively break them up. When they fail, they will split up naturally.
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    Divestiture is a politically fraught issue that would not have been needed had the 44 big banks not folded into four surviving mega banks in 30 years. We will pay for that consolidation forever.
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    I laugh when I read some of the ignorant comments of those who voted NAY to this bill. Here is the fact: WALL STREET FU**** US IN 2008! If you voted NAY to this bill, then please, at the very least, do not give us this "government should not decide this" BULLS***! The Wall Street banks were the ones who CRASHED OUR ECONOMY, and they did it because there was very little government oversight, so the banks could literally GAMBLE WITH PEOPLE'S SAVINGS in the Stock Market without getting punished! The Big Banks must be broken up! For f***'s sake, we spent hundreds of billions of OUR tax dollars bailing out these corporate a******* who screwed us in the first place. We need to stop kissing Wall Street's a** and start kicking Wall Street's a**. Period.
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    The FCC broke up Mountain Bell when it started to behave monopolistically with our communications infrastructure -- and we didn't have to financially prop up their industry before, during or after. For those that say "it'd be too difficult" to break them up should know that many of these banks already operate as umbrella corporations. In other words, there's an over-arching company that runs multiple, wholly independent subsidiaries. Additionally, companies, once broken apart, could negotiate as a consortium/group thereby negating many of the drawbacks a smaller bank might encounter. They rarely pay taxes (by legally shifting monies to tax-free zones or havens) yet enjoy a preferred status & require America to prop them up. But, let's get real: we're talking about multi-national corporations with billions (or more) of liquid assets & holdings -- there's not much they couldn't do…just like they are today. My only question is: what are we waiting for?
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    This a no brainer and to those that say no you obviously don't have any idea how govt. works or the economy.
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    The financial limits on this are what truly bother me. Limiting speculation with funds that are insured? Would you rather them use uninsured funds and lose those? And speculation is the name of the game on Wall Street, without speculation you don't have much profit.
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    No need to break them up. JUST NEVER AGAIN BAIL THEM OUT. If they fail, let them fail. If Lehman can do it, so can all the others.
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    Those in opposition claim that it's dangerous when government has the ability to decide which businesses are too big, but that is the exact definition of Monopoly busting. This is one of the most important abilities that our government has in a capitalistic society for maintaining balance and it has always been there.
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    Looking at the recent bank problems with Wells Fargo and Deutsch Bank in Germany, it's obvious banks that are too big cannot control their branch banks. It would be to everyone's advantage to break up these gigantic banks into smaller ones. The current idea that banks need to be de regulated had been shown historically to be a formula for disaster. Keep regulations intact and strengthen them.
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    As bernie says, if it's too big to fail it's too big to exist. Break it up people.
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    I think that most students are not proceed for college life after high school. Better preparation and more real life skill learning will help prepare students for their future in educational and in the real world.
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    Any Corporation that is "Too Big To Fail" should be a signal that the company needs broken up. No corporation should control so much control over the economy that it's criminal acts result in the collapse of the U.S. and World economies. Breaking up these corporation would increase competition and benefit the general public. If Teddy Roosevelt can break up the powerful robber barons over 100 years ago surely we can do the same.
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    If an entity can not succeed in a competitive marketplace it deserves to fail. The consumer not government is the best judge of a business success or failure
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    The gov should neither break up banks, nor bail them out when and if they fail. If you don't like that big banks have so much money, take your money to another bank.
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    This bill will help reduce the risk of another financial recession costing taxpayers millions to bail out big banks. This is a common sense idea!
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