Comments on: Breaking Up The Banks http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/ Coffee, Charts and Technical Analysis Wed, 10 Mar 2010 09:51:29 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Friday Evening Coffee | Charts and Coffee http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/comment-page-1/#comment-888 Friday Evening Coffee | Charts and Coffee Fri, 22 Jan 2010 21:45:19 +0000 http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/#comment-888 [...] that I am quite proud of Obama getting behind Paul Volcker’s plan. I wrote about this back on November 7th and again on November 17th. var addthis_pub = ''; var addthis_language = 'en';var addthis_options [...] [...] that I am quite proud of Obama getting behind Paul Volcker’s plan. I wrote about this back on November 7th and again on November 17th. var addthis_pub = ''; var addthis_language = 'en';var addthis_options [...]

]]> By: Goldman Ire Moving to Mainstream Media & TED Spread | Charts and Coffee Blog http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/comment-page-1/#comment-524 Goldman Ire Moving to Mainstream Media & TED Spread | Charts and Coffee Blog Fri, 20 Nov 2009 12:53:32 +0000 http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/#comment-524 [...] my “Breaking Up the Banks Post” I mentioned: Regarding Goldman, there is a lot of chatter and outrage directed at the firm. I [...] [...] my “Breaking Up the Banks Post” I mentioned: Regarding Goldman, there is a lot of chatter and outrage directed at the firm. I [...]

]]> By: Breaking Up The Big Banks – Part II | Charts and Coffee Blog http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/comment-page-1/#comment-473 Breaking Up The Big Banks – Part II | Charts and Coffee Blog Wed, 18 Nov 2009 00:23:06 +0000 http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/#comment-473 [...] I previously wrote a post supporting the break up of the big banks. This is a follow up to that post from November 7. [...] [...] I previously wrote a post supporting the break up of the big banks. This is a follow up to that post from November 7. [...]

]]> By: chartsandcoffee http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/comment-page-1/#comment-1399 chartsandcoffee Sun, 08 Nov 2009 19:11:24 +0000 http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/#comment-1399 Denninger "EVERY ONE OF THE LARGE BANKS HAS TO BE BROKEN UP RIGHT NOW. They are ALL a public menace and have learned exactly NOTHING from the pain they have inflicted on America - and from which America is still suffering with sky-high unemployment, 30% interest rates on their credit cards and more. No firm that is "too big to fail" can be allowed to exist and any firm that makes this argument in any form must be deemed to have declared its own demise. Glass-Steagall had this right - the depository and fractional lending function is a public utility and must maintain absolute separation from the other other areas of finance, including but not limited to securities dealing, proprietary trading and insurance. Glass-Steagall prevented these destructive "boom and bust" cycles for nearly 50 years; they returned only after it was repealed and we have now seen four (LTCM, Latin America, The Internet Bubble and Housing Bubble) in less than three decades, with Citibank in particular having to be bailed out at least three times all on its own. The evidence is incontrovertible."<br><br><a href="http://market-ticker.denninger.net/archives/1597-More-Extortion-By-The-Banks.html" rel="nofollow">http://market-ticker.denninger.net/archives/159...</a> Denninger “EVERY ONE OF THE LARGE BANKS HAS TO BE BROKEN UP RIGHT NOW. They are ALL a public menace and have learned exactly NOTHING from the pain they have inflicted on America – and from which America is still suffering with sky-high unemployment, 30% interest rates on their credit cards and more. No firm that is “too big to fail” can be allowed to exist and any firm that makes this argument in any form must be deemed to have declared its own demise. Glass-Steagall had this right – the depository and fractional lending function is a public utility and must maintain absolute separation from the other other areas of finance, including but not limited to securities dealing, proprietary trading and insurance. Glass-Steagall prevented these destructive “boom and bust” cycles for nearly 50 years; they returned only after it was repealed and we have now seen four (LTCM, Latin America, The Internet Bubble and Housing Bubble) in less than three decades, with Citibank in particular having to be bailed out at least three times all on its own. The evidence is incontrovertible.”

http://market-ticker.denninger.net/archives/159...

]]> By: Molave Street Dwende http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/comment-page-1/#comment-1400 Molave Street Dwende Sun, 08 Nov 2009 13:23:47 +0000 http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/#comment-1400 Well said. While this is painfully obvious to most people, many friend I have spoken to seem oblivious. Not surprisingly, many work in banking. The speed at which they all went back to the status quo mindset was astounding. And their cognitive dissonance wrt the bailouts and their making money is mindblowing.<br><br>I got into an argument with a banker recently who started repeatedly badgering me with, "Do you think Bill Gates deserves his money?" This was in reference to my side comment that bankers were paid too much. I replied that his statement was a complete non-sequiter, as the system was no longer a meritocracy and in any case Bill Gates actually produced some value added to this world. At which point I simply stopped the discussion. Well said. While this is painfully obvious to most people, many friend I have spoken to seem oblivious. Not surprisingly, many work in banking. The speed at which they all went back to the status quo mindset was astounding. And their cognitive dissonance wrt the bailouts and their making money is mindblowing.

I got into an argument with a banker recently who started repeatedly badgering me with, “Do you think Bill Gates deserves his money?” This was in reference to my side comment that bankers were paid too much. I replied that his statement was a complete non-sequiter, as the system was no longer a meritocracy and in any case Bill Gates actually produced some value added to this world. At which point I simply stopped the discussion.

]]> By: chartsandcoffee http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/comment-page-1/#comment-337 chartsandcoffee Sun, 08 Nov 2009 13:11:24 +0000 http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/#comment-337 Denninger "EVERY ONE OF THE LARGE BANKS HAS TO BE BROKEN UP RIGHT NOW. They are ALL a public menace and have learned exactly NOTHING from the pain they have inflicted on America - and from which America is still suffering with sky-high unemployment, 30% interest rates on their credit cards and more. No firm that is "too big to fail" can be allowed to exist and any firm that makes this argument in any form must be deemed to have declared its own demise. Glass-Steagall had this right - the depository and fractional lending function is a public utility and must maintain absolute separation from the other other areas of finance, including but not limited to securities dealing, proprietary trading and insurance. Glass-Steagall prevented these destructive "boom and bust" cycles for nearly 50 years; they returned only after it was repealed and we have now seen four (LTCM, Latin America, The Internet Bubble and Housing Bubble) in less than three decades, with Citibank in particular having to be bailed out at least three times all on its own. The evidence is incontrovertible."<br><br><a href="http://market-ticker.denninger.net/archives/1597-More-Extortion-By-The-Banks.html" rel="nofollow">http://market-ticker.denninger.net/archives/159...</a> Denninger “EVERY ONE OF THE LARGE BANKS HAS TO BE BROKEN UP RIGHT NOW. They are ALL a public menace and have learned exactly NOTHING from the pain they have inflicted on America – and from which America is still suffering with sky-high unemployment, 30% interest rates on their credit cards and more. No firm that is “too big to fail” can be allowed to exist and any firm that makes this argument in any form must be deemed to have declared its own demise. Glass-Steagall had this right – the depository and fractional lending function is a public utility and must maintain absolute separation from the other other areas of finance, including but not limited to securities dealing, proprietary trading and insurance. Glass-Steagall prevented these destructive “boom and bust” cycles for nearly 50 years; they returned only after it was repealed and we have now seen four (LTCM, Latin America, The Internet Bubble and Housing Bubble) in less than three decades, with Citibank in particular having to be bailed out at least three times all on its own. The evidence is incontrovertible.”

http://market-ticker.denninger.net/archives/159...

]]> By: chartsandcoffee http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/comment-page-1/#comment-259 chartsandcoffee Sun, 08 Nov 2009 12:11:24 +0000 http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/#comment-259 Denninger "EVERY ONE OF THE LARGE BANKS HAS TO BE BROKEN UP RIGHT NOW. They are ALL a public menace and have learned exactly NOTHING from the pain they have inflicted on America - and from which America is still suffering with sky-high unemployment, 30% interest rates on their credit cards and more. No firm that is "too big to fail" can be allowed to exist and any firm that makes this argument in any form must be deemed to have declared its own demise. Glass-Steagall had this right - the depository and fractional lending function is a public utility and must maintain absolute separation from the other other areas of finance, including but not limited to securities dealing, proprietary trading and insurance. Glass-Steagall prevented these destructive "boom and bust" cycles for nearly 50 years; they returned only after it was repealed and we have now seen four (LTCM, Latin America, The Internet Bubble and Housing Bubble) in less than three decades, with Citibank in particular having to be bailed out at least three times all on its own. The evidence is incontrovertible."<br><br><a href="http://market-ticker.denninger.net/archives/1597-More-Extortion-By-The-Banks.html" rel="nofollow">http://market-ticker.denninger.net/archives/159...</a> Denninger “EVERY ONE OF THE LARGE BANKS HAS TO BE BROKEN UP RIGHT NOW. They are ALL a public menace and have learned exactly NOTHING from the pain they have inflicted on America – and from which America is still suffering with sky-high unemployment, 30% interest rates on their credit cards and more. No firm that is “too big to fail” can be allowed to exist and any firm that makes this argument in any form must be deemed to have declared its own demise. Glass-Steagall had this right – the depository and fractional lending function is a public utility and must maintain absolute separation from the other other areas of finance, including but not limited to securities dealing, proprietary trading and insurance. Glass-Steagall prevented these destructive “boom and bust” cycles for nearly 50 years; they returned only after it was repealed and we have now seen four (LTCM, Latin America, The Internet Bubble and Housing Bubble) in less than three decades, with Citibank in particular having to be bailed out at least three times all on its own. The evidence is incontrovertible.”

http://market-ticker.denninger.net/archives/159...

]]> By: Molave Street Dwende http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/comment-page-1/#comment-257 Molave Street Dwende Sun, 08 Nov 2009 06:23:47 +0000 http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/#comment-257 Well said. While this is painfully obvious to most people, many friend I have spoken to seem oblivious. Not surprisingly, many work in banking. The speed at which they all went back to the status quo mindset was astounding. And their cognitive dissonance wrt the bailouts and their making money is mindblowing.<br><br>I got into an argument with a banker recently who started repeatedly badgering me with, "Do you think Bill Gates deserves his money?" This was in reference to my side comment that bankers were paid too much. I replied that his statement was a complete non-sequiter, as the system was no longer a meritocracy and in any case Bill Gates actually produced some value added to this world. At which point I simply stopped the discussion. Well said. While this is painfully obvious to most people, many friend I have spoken to seem oblivious. Not surprisingly, many work in banking. The speed at which they all went back to the status quo mindset was astounding. And their cognitive dissonance wrt the bailouts and their making money is mindblowing.

I got into an argument with a banker recently who started repeatedly badgering me with, “Do you think Bill Gates deserves his money?” This was in reference to my side comment that bankers were paid too much. I replied that his statement was a complete non-sequiter, as the system was no longer a meritocracy and in any case Bill Gates actually produced some value added to this world. At which point I simply stopped the discussion.

]]> By: uberVU - social comments http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/comment-page-1/#comment-254 uberVU - social comments Sat, 07 Nov 2009 21:19:34 +0000 http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/#comment-254 <strong>Social comments and analytics for this post...</strong> This post was mentioned on Twitter by chartsandcoffee: Op ed on breaking up the money center banks - http://bit.ly/4lXeE6 $$... Social comments and analytics for this post…

This post was mentioned on Twitter by chartsandcoffee: Op ed on breaking up the money center banks – http://bit.ly/4lXeE6 $$…

]]> By: chartsandcoffee http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/comment-page-1/#comment-253 chartsandcoffee Sat, 07 Nov 2009 19:16:45 +0000 http://www.chartsandcoffee.com/2009/11/breaking-up-the-banks/#comment-253 I want to hear the arguments as to why too big to fail institutions are needed and benefit the banking system. And if they do, does it outweigh the potential hazards we have witnessed during the banking crisis. I'm willing to keep an open mind. But if the answer is that there is no real benefit or that the benefit does not outweigh the hazards, then let's get on with breaking these guys up. I want to hear the arguments as to why too big to fail institutions are needed and benefit the banking system. And if they do, does it outweigh the potential hazards we have witnessed during the banking crisis. I'm willing to keep an open mind. But if the answer is that there is no real benefit or that the benefit does not outweigh the hazards, then let's get on with breaking these guys up.

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