Sherrod Brown Takes On Megabanks — And The Obama Administration - TPMDC

[WillyT]

Sherrod Brown Takes On Megabanks — And The Obama Administration
Brian Beutler - TPMDC
April 26, 2013, 8:48 AM 5404

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Sen. Sherrod Brown (D-OH) says his latest effort to address the problem of Too Big To Fail banks faces two large but deeply intertwined challenges: Wall Street banks and the Obama administration.

“It’s clear there’s too much Wall Street in this administration,” he told me during a Thursday interview in his Capitol Hill office.

Obama’s Treasury department is just as unfriendly to the idea of breaking up big banks, or limiting their destructive potential, under Jack Lew as it was under Timothy Geithner, Brown said.

He was particularly unhappy with a recent speech in which Treasury undersecretary for domestic finance Mary Miller argued that the Dodd-Frank Wall Street reform bill already addressed the Too Big To Fail problem.

But Brown, and strange bedfellow Sen. David Vitter (R-LA), are pressing ahead anyhow with a new bill to impose much stricter capital requirements on megabanks, which they define as institutions with over $500 billion in assets.

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More: http://tpmdc.talkingpointsmemo.com/2013/04/sherrod-brown-takes-on-megabanks----and-the-obama-administration.php

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1. Du rec. Nt

[Mnemosyne]

2. K&R

[WillyT]

3. Kick !!!

[Initech]

4. Megabanks.

I can't be the only one frightened when our financial institutions sound like they could take on Godzilla.

[forestpath]

5. K&R