Monday, October 19, 2009

What A Concept, Regulating The Banks

Finally, someone has had enough of these greedy fucking bastards, it's about fucking time.

Large banks are on the verge of losing a key legislative battle over the shape of financial reform, an unusual setback that reflects the continued political backlash over their role in creating the financial crisis.

The House Financial Services Committee is expected to vote Tuesday to let state governments protect bank customers by imposing restrictions that go beyond existing federal laws, according to congressional and industry sources.

The move would roll back a doctrine called preemption that has allowed big banks to answer solely to federal regulators. The banks argue that operating under a single set of rules is more efficient and results in lower prices for customers. But the Obama administration, which is pushing for the change, regards preemption as a cause of the crisis because it prevented state regulators from quashing obvious abuses.

The change essentially would unleash 50 additional regulators on the largest banks.

It ain't enough in my opinion.

The fucking bastards belong in jail, period.

Too big to fail, my achin' ass.


  1. Anonymous3:24 PM

    now this is an issue both the right and the left can agree on. seems we all hate these evil, greedy bastards.

  2. About time indeed. One of my great frustrations with the banking system as a Realtor is that the banks are completely unaccountable to state governments and their own customers. On one occasion I attempted to file a complaint about one incompetent loan officer, only to be told I would actually have to take it up with the Comptroller of the Currency in Houston TX! Unfortunately, this is only one small incident demonstrating that banks could use state oversight on issues within the state.

  3. It would be nice if we had better regulation at the federal level, and serious enforcement.