The New Exchange / How do financial institutions get too big to fail?

**Posted by Rongone** 1/30/2016 8:57 am

The obvious answer is: we let them. Government agencies do not pursue criminal prosecution of these banks, investment houses, and insurance companies. These institutions, when caught with their pants down, negotiate and agree to a fine. Even though the fine is tens of millions of dollars, it's merely a drop in the bucket compared to their annual revenues. Who pays for it? We do through higher interest rates and fees the bank collects for warehousing our money. Write your senators and congressman and tell them it's time to regulate, break up, and criminally prosecute financial institutions, their executives and their board members.

http://news.yahoo.com/warren-demands-tough-criminal-action-223000050.html

**Posted by Just Fred** 1/30/2016 1:45 pm

Maybe I'm in a cynical mood today, rongone, but I fear the ship has sailed. As we march toward some kind of a plutocratic oligarchy, there are too many of our fellow Americans cheering it on to reverse the trend.

When Corporate America discovered they did all they could, they decided to buy the government and our judicial system. It was the only thing standing in their way. The Citizens United decision was the straw that broke the camel's back for me, and as a result, they are happy to let the unwashed masses feud with eachother over social issues like abortion, gun rights, and religious issues, etc. while they stand back, laugh, and build their personal fortunes.

Sigh.

Last edited by Just Fred (1/30/2016 1:46 pm)

**Posted by Goose** 1/30/2016 2:01 pm

The Famous 19th century British statesman, Lord Palmerston once stated, "A nation has no eternal allies, and we have no perpetual enemies. Our interests are perpetual and eternal, and those interests it is our duty to follow. We mean to do what may seem best , upon each occasion as it arises,making the interests of our country one's guiding principle."

This deceptively simple concept worked for Britain in part because its ruling class was committed to an almost intuitive sense of what the country's enduring interests were. Contrast that with 21st century America, where the enduring national interest has been abandoned for the narrow self interest.

Fred is correct, politicians have found that their own interests can be served by distracting the masses with "shiny objects" of the culture wars while they use the boundless riches of the few.

**Posted by flowergirl** 1/30/2016 3:28 pm

Senator Warren is all over the banks and their evil ways but she seems to be the lone wolf.

**Posted by Rongone** 1/30/2016 3:48 pm

I'll make it easy for you if you want to add your name to Warren's attempt to galvanize support of an amendment to get tough on greedy, unrepentant, financial institutions. Sign it. Share it with friends. Or, sit back and do nothing. It's up to you.

Stand with Sen. Warren: Tell Senate Democrats not to sabotage Wall Street cops. Click below to sign the petition:

http://act.credoaction.com/sign/sabotaging_regulators?t=7&akid=16667.6794282.WflamZ

Thank you for speaking out,

**Posted by Just Fred** 1/30/2016 3:50 pm

Slipping into an even more cynical mood, one has to wonder whether or not when a considerable chunk of a country's populace would promote a guy like Donald Trump as the potential leader and spokesperson of their nation even deserves to govern itself.

After we vote for people who will ban abortion and gay marriage, arm every 'good guy' in America with a gun, require schools to read a Bible verse at the beginning of each school day, then what?

After I follow up on rongone's suggestion, I'm going outside, open up a fine vin nobile from Montepulciano, fire up a cigar, and watch the birds jostle for seeds around my bird feeder.

Last edited by Just Fred (1/30/2016 3:52 pm)

**Posted by Goose** 1/30/2016 8:47 pm

I have contacted the Senator's office.
BTW, this office is well run and does a great job of communicating, at least if you are a resident of MA

**Posted by flowergirl** 1/30/2016 8:49 pm

I have signed her petition on a Facebook post.