TV News LIES

Thursday, Aug 17th

Last update05:20:13 AM GMT

You are here News Congress Too-Big-to-Fail Bill Seen as Fix for Dodd-Frank Act’s Flaws

Too-Big-to-Fail Bill Seen as Fix for Dodd-Frank Act’s Flaws

E-mail Print PDF

Too big to fail“Too-big-to-fail” legislation unveiled in Washington today is needed to rein in the biggest U.S. banks because the Dodd-Frank Act has failed to guard taxpayers against future bailouts, the bill’s sponsors said.

The four largest banks -- JPMorgan Chase & Co. (JPM), Bank of America Corp., Citigroup Inc. and Wells Fargo & Co -- “are nearly $2 trillion larger than they were” before getting U.S. aid to help them weather the 2008 credit crisis, Senator Sherrod Brown said in a news conference today.

“If big banks want to continue risky practices, they should do so with their own assets,” said Brown, an Ohio Democrat. “Our bill will ensure a level playing field for all financial institutions by ending the subsidy for Wall Street megabanks and requiring banks to have adequate capital.”

Brown and Republican Senator David Vitter of Louisiana, whose plan is opposed by key lawmakers, are proposing a 15 percent capital requirement for so-called megabanks as a way to reduce risk and remove the perception that they would get bailouts in a crisis. Mid-size and regional banks, those between $500 billion and $50 billion in assets, would need to have 8 percent capital relative to assets.

More...


Most Recent Related Stories...


Democrats Renew Push to Probe Deutsche Bank Russia Scandal

Deutsche Bank involvement in Russia probe pushedA handful of Democratic lawmakers have renewed their effort to get a powerful House Republican to...

Senators move to protect Mueller inquiry from Trump interference

Mueller protected by Senate billSpecial Counsel Robert Mueller III received a bipartisan boost from Capitol Hill on Thursday, even as...

Hunt for Trump dossier author inflames Russia probe

Christopher Steele, Trump dossier authorTwo Republican House Intelligence Committee staffers traveled to London earlier this summer to track down the...

Top Dem seeks documents from Flynn business partner

Elijah CummingsThe top Democrat on a House oversight committee has asked a business partner of the Trump...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!