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MetLife CEO: We're not too big to fail

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Mortgage Professional America | 20 Jan 2015, 08:41 AM Agree 0
In a turn of events, now a large financial institution is suing regulators for too much oversight. Is this a bellwether of things to come?
  • JOHN DURHAM | | 20 Jan 2015, 10:01 AM Agree 0
    This event confirms the logic of regulation, which is to protect the public. But, how is the public protected when by out and out tyranny. And, on the other hand, the culprits over at the TBTF banks are still not in Jail but have moved enough money to take over absolutely all three branches of our government. The removal of Glass-Steagall caused that. Yet, Glass-Steagall took almost no actual "regulation", it was so simple and clear cut.

    Therefore, we can say that when existing legislation does not actually protect, "regulation" by an army of agents will not protect the public. Dodd-Frank is a known joke and with the December changes offers nothing in protection to the public, exactly what the TBTF banks wanted. It is time to divide legitimate banks from the dead weight and have public banks created to take over the State and Federal bank business. Past time to bring Wall Street to an end for other reasons as well, but I will not raise those issues that continually take us into wars here.
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