TV News LIES

Monday, May 02nd

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...


Pentagon slams Benghazi panel for wasting money with exhaustive probe

DOD slams Benghazi panelThe U.S. Department of Defense this week sent a letter to the House panel still investigating...

Former House speaker sentenced to more than a year in prison

Denny Hastert sentenced to 15 months- Dennis Hastert, the Republican who for eight years presided over the House and was second...

House committee votes to require women to register for draft

Women and the draft Women would be required to register for the military draft under a House committee bill that...

60 Minutes: U.S. Rep. was told to raise $18,000 a day so he could get reelected.

Dialing for dollars: 60 MinutesRep. David Jolly says he was told his first job as a newly elected congressman was...
 
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!