FDIC Demands Banking Break Up Plans: Why Wait?

[Donnachaidh]

http://www.opednews.com/articles/FDIC-Demands-Banking-Break-by-Chaz-Valenza-110913-734.html

According to the Associated Press, the Federal Deposit Insurance Corporation (FDIC) voted today to approve a rule requiring banks with over $50 billion in assets to plan how they would break up if they are in danger of failing.

The rule, mandated under the financial overhaul legislation passed by Congress last year, is in fact admitting that such banking giants are still too big to fail and must be broken down in order to fail properly.

How does this help in another financial crisis? Isn't this just giving these players time to plan a failure from which they can profit, just as they do every other transaction?

A better question is why not just break them up now? That way all American's can sleep a little easier knowing the "systemic" risk has been preempted.

More at the link --

[sam11111]

1. true

Now

[sam11111]

2. CREDIT UNIONS are co ops: no owner to give trucks of money to GOP

Are u in one?
Better interest on savings

Fewer fees

Politer

Lower loan rates

All because no corporate profit gouge

[sam11111]

3. "EVERYone who lives or works in this area" can join

Typical of new type membership rules

That have come into being in the last few years

Surprisingly easy now to join. Do that!

[sam11111]

4. PS co ops can make everything

Oil refinery. McPherson KS

Auto parts - Mondragon Spain

Credit Unions

Grocery co ops

Rural electric co ops

Toothbrush, litebulb factories. Sweden

All four parts of an economy

Production
Distribution
Repair
Banking

[firehorse]

5. rec. break up the banks now - there should be some kind of ratio formula that doesn't allow 4 banks

to monopolize the system.

I have my business account in a credit union.

Pros: its really inexpensive, no minimum amount required. No fees.

Cons: one location, always a long wait in line - even with 3 people ahead of me it can take as long as 40 minutes to see the teller, and only one working ATM machine. Business debit card doesn't say the word business on it, so sometimes its a problem for my vendors.