Who here can name the banks broken up under Frank Dodd as "too big to fail"?

[JustAnotherGen]

3. I can kind of answer

Last edited Tue Mar 8, 2016, 10:58 AM - Edit history (2)

Chase, Bank of America and Wells Fargo all absorbed failures – so they actually got a little bigger.

GS, MS and Citi are now a little bit smaller – and they should be.

All are better capitalized and prepared to save themselves now – they weren't in Q4 2008.

Check this out from March of Last year - it still holds true:

Fed Says 31 U.S. Banks Could Weather an Economic Storm
http://www.bloomberg.com/news/articles/2015-03-05/fed-stress-tests-show-31-largest-banks-meet-capital-targets

If you go to the link - there's a good chart outlining their positions.

The Federal Reserve said all 31 big banks subjected to a stress test have sufficient capital to absorb losses during a sharp and prolonged economic downturn.

It’s the first time since the central bank started stress tests in 2009 that no firm fell below any of the main capital thresholds. Goldman Sachs Group Inc. surpassed the 8 percent minimum for total risk-based capital by 0.1 percentage point, potentially restricting its room to return capital to shareholders.

The annual tests, using hypothetical scenarios that are not forecasts, are the cornerstone of the Fed’s efforts to prevent a repeat of the 2008 financial crisis and to gauge the ability of banks to withstand economic turmoil.

The largest U.S.-based banks “continue to build their capital levels and to strengthen their ability to lend to households and businesses during a period marked by severe recession and financial market volatility,” the Fed said in a statement Thursday.

The global banks are my chief concern. That's why I'd like to see regulations on individuals and yes - even businesses (banks) if we were to re implement G.S. and hold foreign entities responsible. Example - a freight ship company operating in North Africa that shipped Iran sanctioned goods to Iran - might not ever operate in the US. However, if you are a US based business or citizen - you cannot export to that freight ship company or send them money for services.

They are on the BIS list. If they engaged in activities on behalf of ISIS or a Drug Kingpin - they would be on OFAC. We can't undo what has been done - but we can say -

There are other ways to fuck with America than blowing up bridges and if you do this - we won't do business with you as a country anymore. It will be forbidden.

And here's how this works if you are engaged in Import/Export Compliance - let's say an American citizen on the BIS list goes abroad and asks me to ship them something - I'm PERSONALLY liable - not my company. Let's hold senior managers in the banking industry to the same standards that every other person in other types of industry are. They aren't 'special' and ignorance shouldn't be allowed to be used as an excuse.