While on the issue of Dodd-Frank; Senator Elizabeth Warren stated from the Senate floor yesterday that the big banks are now carrying $10 trillion in debt.
In 2008 the USA bailout the banks with $800 billion. Every American was angry and astounded at the sizeable bail out. If the big banks collapse again with that level of debt there was be a catastrophic economic collapse of the every country on Earth.
If ten trillion US is the correct debt of the big banks, the USA could not and would not bail them out again. Did Dodd-Frank Act work to end the danger to the global economy? No. If Senator Elizabeth Warren correct in her assessment should the big banks be spilt up? What is everyone waiting for? Breaking up the big banks is no longer in doubt!
I think it is also important to determine the effect of Dodd-Frank on smaller banks before the big banks are broken up.
In 2008 the USA bailout the banks with $800 billion. Every American was angry and astounded at the sizeable bail out. If the big banks collapse again with that level of debt there was be a catastrophic economic collapse of the every country on Earth.
If ten trillion US is the correct debt of the big banks, the USA could not and would not bail them out again. Did Dodd-Frank Act work to end the danger to the global economy? No. If Senator Elizabeth Warren correct in her assessment should the big banks be spilt up? What is everyone waiting for? Breaking up the big banks is no longer in doubt!
I think it is also important to determine the effect of Dodd-Frank on smaller banks before the big banks are broken up.
