Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhile we are being distracted with 45's shenanigan's, this is happening...
https://www.nytimes.com/2019/03/06/business/bank-regulation.html?action=click&module=Top%20Stories&pgtype=HomepageThe Federal Reserve said it would adjust the structure of its annual stress tests, which measure the ability of leading banks to withstand a potential economic or financial storm. The changes are likely to make it easier for banks to get regulatory approval to pay higher dividends or buy back their own shares.
Separately, a federal oversight panel announced that it planned to no longer designate big, non-bank financial institutions insurers, asset managers and the like as systemically important. The classification subjected such firms to more intrusive government regulation.
Taken together, the announcements on Wednesday represented a big win for the financial industry, which has been arguing since the Obama administration that a flurry of regulations imposed following the financial crisis were onerous and made it harder for banks to make loans and support economic growth. Bank executives also argue that because the industry is much financially stronger than it was a decade ago,many recent regulations are now unnecessary.
.
.
.
Critics, however, argued that the relaxation of the rules, while financially beneficial to bank shareholders and executives, will lead to a less safe, less transparent financial system that is more vulnerable to a repeat of last decades devastating crisis.
*********
Opening the door to another severe recession like the one we had 11 years ago????
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
4 replies, 1944 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (30)
ReplyReply to this post
4 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
While we are being distracted with 45's shenanigan's, this is happening... (Original Post)
alwaysinasnit
Mar 2019
OP
If I am not mistaken, one of the provisions of Dodd-Frank characterizes depositors as creditors
alwaysinasnit
Mar 2019
#2
exboyfil
(17,863 posts)1. Don't forget the bail outs
and the Federal guarantees on deposit. Privatizing profits and socializing losses once again.
alwaysinasnit
(5,066 posts)2. If I am not mistaken, one of the provisions of Dodd-Frank characterizes depositors as creditors
which means that whatever savings we have with these banks is fair game. And although these deposits are FDIC insured, the FDIC is woefully underfunded. We are going to be left holding the bag again.
BootinUp
(47,144 posts)3. Greed kills. Nt
czarjak
(11,274 posts)4. But...
Of course. It's Republican policy, happens every fucking time.