Finally, a Bill to Reinstate Limits on Bank Size

Date: 24 Mar 2010 | posted in: Banking | 0 Facebooktwitterredditmail

Not one to let a good crisis go to waste, Bank of America managed, in the dark days of 2008, to parlay its own insolvency and near collapse into attaining something it had long dreamed of: federal approval to bypass a national law that says that no bank may acquire another bank if it would end up holding more than 10 percent of the country’s deposits.

Now, at long last, a new Senate proposal calls for reinstating strict size caps.  It would mean disassembling at least five big banks.

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Financial System Even More Vulnerable Now, Warns Inspector General

Date: 2 Feb 2010 | posted in: Banking | 0 Facebooktwitterredditmail

The latest report from TARP Inspector General Neil Barofsky warns, “Even if TARP saved our financial system from driving off a cliff back in 2008, absent meaningful reform, we are still driving on the same winding mountain road, but this time in a faster car.”… Read More

Financial Crisis Commission Hearings Begin

Date: 13 Jan 2010 | posted in: Banking | 0 Facebooktwitterredditmail

Hearings held to investigate the crash of 1929 led to the passage of the Glass-Steagall Act, which fundamentally restructured the banking industry.  Can the FCIC hearings, which get underway today, help to bring it back? … Read More

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