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When the Reagan-deregulated S&Ls stole all the money from millions of Seniors, several hundred of their executives served time, including close Reagan confidant Charlie Keating and the Keating five. This time with the jrbush deregulated banking and mortgage industry not a single Bankster served time. ENOUGH! The REpugs have been legalizing theft for 30 years and it is time to get rid of them and fix the mess they created.
In Response to Big Banks, Flooded in Profits, Fear Flurry of New Safeguards:
July 18, 2013, 9:21 pm
Big Banks, Flooded in Profits, Fear Flurry of New Safeguards
By PETER EAVIS
The nation’s six largest banks reported $23 billion in profits in the second quarter, but they could end up victims of their own success.
In recent weeks, the Treasury Department, senior regulators and members of Congress have stepped up efforts intended to make the largest banks safer. The banks have warned that more regulation could undermine their ability to compete and curtail the amount of money they have to lend, but the strong earnings that came out over the last week could undercut their argument.
The most pressing concern for banks is a relatively tough new rule that regulators proposed last week that could force banks to build up more capital, the financial buffer they maintain to absorb losses. But the banks did not demonstrate any difficulty in meeting the proposed rules, and the banks now appear to have fewer allies in Washington than at any time since the financial crisis.
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Posted by WernerS2