Now they're really too big to fail? Right?

[Gaspar]

It's nearly two years after President Obama's financial reform program started.  The only success of Dodd-Frank was to raise capital requirements for banks.  This, as predicted by everyone with a brain, made it more difficult for small lenders to enter or stay in the market.  Essentially destroying any new competition for the megga-banks and clearing the landscape for unbridled growth.  Additionally, for reasons unfathomable to rational human beings, the fed is still paying 0.25% to banks not to loan money.  That means nothing to the bank down the street, but to the megga-banks, it's a megga-fortune with 0 risk.

It seems like just yesterday the President promised:

"Never Again Will the American Taxpayer be Held Hostage by a Bank that is 'Too Big to Fail'"

He then graced us with a soul-stiring speech, that brought many to the verge of unconsciousness (as usual):
"In addition, as part of our efforts to protect against future crises, I'm also proposing that we prevent the further consolidation of our financial system.  There has long been a deposit cap in place to guard against too much risk being concentrated in a single bank.  The same principle should apply to wider forms of funding employed by large financial institutions in today's economy.  The American people will not be served by a financial system that comprises just a few massive firms.  That's not good for consumers; it's not good for the economy.  And through this policy, that is an outcome we will avoid." http://www.whitehouse.gov/the-press-office/remarks-president-financial-reform
http://search.whitehouse.gov/search?affiliate=wh&query=%22too+big+to+fail%22+banks&form_id=usasearch_box&submit.x=0&submit.y=0&submit=Search

The five banks that held assets equal to 43% of the US economy in 2007 before the financial crisis and the bank bailout now control assets that equal 56% of the US economy. http://www.bloomberg.com/news/2012-04-16/obama-bid-to-end-too-big-to-fail-undercut-as-banks-grow.html

This strikes at the heart of OWS passion, the evil banisters, but now the evil banksters are free from the burden of competition, and the Federal Reserve is actually paying them to grow without the need to provide service to the stinky 99%.  The Obama Administration has actually created super-banks that are above the free market.  

We are on the road at 100mph, the steering is out, and the breaks have been removed.  

[Gaspar]

3. . .2. . .1  Teatown posts about Bush.

[Teatownclown]

Breaking up the big banksters comes next.....he, along with Geitner and Bernie, got the stabilization needed to fix what the Busheviks and Reaganites screwed up. The 2008 - 09 collapse needed to be fixed first and now's approaching the time to decentralize all the control the big banks have retained.

You "cons" should be happy to see this coming. Breeding competitiveness is what capitalism is all about. We are no longer destined to become an oligarchy if POTUS OBAMA gets reelected.

"This guy can say things that aren't true with greater conviction than anyone I've ever seen." I guess Jim Inhofe paid little attention to the Chimp in Charge. And Clinton was damn good at this practice. Reagan just played stupid.

Is he lying about this http://news.yahoo.com/blogs/ticket/under-fire-over-high-gas-prices-obama-calls-165403975.html too?

Hope I don't disappoint you, Gassiuos.

[Gaspar]

Hope I don't disappoint you, Gassiuos.

You never do my friend.

[nathanm]

now the evil banksters are free from the burden of competition

You are delusional. The new capital rules don't even apply fully to the smallest bank holding companies, and are relaxed relaxed to the TBTF banks for the medium sized bank holding companies. This is a dramatic reversal from previous policy, which required less capital for the largest banks. Go figure.