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Occupy Underground

Hoyt

(54,770 posts)

3. Banks could always "take" your money, hence FDIC. As a practical matter, if it gets to that point,

Reply to snot (Original post)

Sat Jan 9, 2016, 04:12 PM

Jan 2016

your money is pretty much worthless unless the Feds step in.

And, no, I'm not saying financial institutions don't do illegal things. Where money is involved, tough regulation is required. But, breaking up the big banks into lots of smaller ones will not enhance regulation, IMO. In an event that would bring down a big bank, you'd just have hundreds/thousands of smaller ones going down -- and correcting the problem will be more complicated.

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Question! (about an amendment to Dodd-Frank; referrals welcome!) [View all] snot Jan 2016 OP

Kick for exposure. I'm hoping you get some replies 99th_Monkey Jan 2016 #1

Thanks! snot Jan 2016 #2

Banks could always "take" your money, hence FDIC. As a practical matter, if it gets to that point, Hoyt Jan 2016 #3

As I understand it .. 99th_Monkey Jan 2016 #5

I think I know something about that and, uh, agree to disagree. snot Jan 2016 #7

I'm not up on the Dodd-Frank details Joe Shlabotnik Jan 2016 #4

Like Geo. Carlin said, "they gotcha by the balls" 99th_Monkey Jan 2016 #6