Fed’s Kashkari: Big banks threaten global economy
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A regional president of the US Federal Reserve System has said large banks pose a significant threat to the global financial system and they should be broken up. President of the Minneapolis Fed, Neel Kashkari, asked for -bolder, transformational options to reform the banking sector. He added that if the largest banks fail amid a stressed economic environment, the government will be forced to bail them out. Kashkari was a top Treasury official during the 2008 financial crisis and he was one of the architects of the government’s bailout of banks and carmakers at that time. He suggested that the largest banks could be broken down to smaller, less connected and less important entities. He said another option would be turning them to public utilities. Watch Live: http://www.presstv.ir/live.html Twitter: http://twitter.com/PressTV LiveLeak: http://www.liveleak.com/c/PressTV Facebook: http://www.facebook.com/PRESSTV Google+: http://plus.google.com/+VideosPTV Instagram: http://instagram.com/presstvchannel SoundCloud: https://soundcloud.com/videosptv
Comments
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This is a threat against humanity. They are creating fascists again. By all this western corruption...
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Self destruction?
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The zombie T.B.T.F. private banks are dead banks, meaning they are insolvent,... broke. Just breaking up zombie banks isn't the solution and doesn't make sense because they are dead, insolvent, broke. The solution is to let them fail (fail also include, give back the money they owe to the people, money the people have in their checking and savings account with interests and all debts disappear) and send ALL fraudsters to jail.
This is nothing new. It happened long time ago in certain nations in Latin America, such as Brazil and not long time ago in Iceland.
Part of the solution for long term is: no more PRIVATE central banking, place back glass-steagall into legislation, and old and new small public (credit unions in the US) and private commercial, investment banks continue and new ones will enter the market (they will and must compete with each other, under short and strict rules), and life goes on. Oh and no more campaign donations! Mr Kashkari just tells people what they want to hear, it make them go "ohhh", (and in my case " yeah, right".) -
Bill Clinton and Rubin made the biggest mistake by tearing up the Glass Seagull Act. The banks are corrupt.
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Kashkari voice need to be heard and the vast majority of the American public is aware of this thanks to voices like Dr. Craig Roberts
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Too big to fail too big to jail too big to exist.
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Yeah but that is unlikely to happen.
Pride, prestige among other things are involved.
But who knows maybe we become more humble : )
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