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05:01 PM on 09/04/2012
Stop being a puppet to the banking cartel--- You don't work for Jamie Dimon.

The real tragedy is that everyone knows that bank living wills are useless, and yet, we are continuing to build on this fantasy. Our leaders are choosing to gloss over structural weaknesses in every possible way so that actual constructive reform can be avoided. What would it take to create a system worthy of our trust, instead of attempting to convince the world to entrust their money to a financial system riddled with fraud, opacity, and accounting tricks? It would take shrinking TBTF banks down to a size where they are not perceived to threaten the world's economy, investigating the fraud leading up to the financial crisis, introducing hyper-transparency to the industry, and infusing personal accountability for executives in publicly-traded financial sector corporations.

If politicians were serious about tackling the issues raised by having banks that are systemically dangerous, they would begin by seeking ways to make those institutions small enough to fail, small enough so that their political power does not dictate who is electable, and small enough so that politicians are able to make decisions based on protecting American citizens.

Dodd-Frank is a disaster; it creates additional barriers to entry for small players, while barely being a blip in terms of compliance for the giant recidivist financial juggernauts. We need more competition, not less. Dodd-Frank is moving us in the wrong direction.
Realist2011
beware false profits....
05:35 PM on 09/04/2012
I think the biggest problem is that if the regulators forced the banks to actually print true and accurate financial statements, including their total derivatives exposure (and discounting any hedging, which will be useless in a massive failure), if they had to write their assets down to actual current value (mark to market), if their "risk-weighted" assets were calculated based upon reality instead of the banks desires, etc., we'd find out the banks are basically shells living on taxpayer dollars.

The truth, were it to come out, would be disastrous for them, so they hide it, with Washington's approval. Of course, it's going to come apart at some point, and the pain will be much worse, but Washington will kick the can down the road as long as it can, and then claim, it had no idea.
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08:42 PM on 09/04/2012
Everyone watch "The Secret of Oz" documentary on YouTube.

We should all CARE about "pain" for the 1% - seriously, even if they are only worth 1 million instead of 1 billion, they'll get the drugs they need to not feel any pain. After all, they've been laundering savage and violent mercenary and drug cartel $$$$ through their banks - the only "real" assets they might have - war, slavery, drugs.
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HUFFPOST SUPER USER
Tar Heel Bill 92
Progressive registered Republican business owner
04:46 PM on 09/04/2012
I am entertained about the criticisms of President Obama's first term which were caused by a obstructionist Republican Congress:

Elizabeth Warren was prevented from being head of the Consumer Protection Bureau, and its funding was stalled by the GOP-controlled House. That prevents going after a lot of financial services fraud and coercion.

The Obama administration can't prosecute. That's the independent Department of Justice. And if the laws aren't violated, it's hard to prosecute. Ask the GOP-controlled House and Bush-era GOP Congress watered down those laws.

Income inequality is worse today--because the GOP tax policies caused it and the GOP continues to obstruct any Obama policies that can help! ROMNEY and the GOP want to reduce taxes on the wealthy which will create even MORE INEQUALITY.

Health care reform helps 46 million people, including more than 26 million, have access to healthcare. While it isn't proven that Obamacare will reduce costs, it's tough to know until the darn law takes full effect in 2014! It's a great start, and better than anything the GOP has proposed.

President Obama supports continuing the payroll tax cut. Obama also supports ending the Bush tax cuts for those making more than $250,000 which will help mitigate income inequality, unlike the GOP--another slideshow inaccurate accusation!

Democrats might get more from employees of corporations and Bain Capital--while the GOP certainly gets FAR more combined than all of that from the owners/CEOs/partners of those same corporations!

What a sham.
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HUFFPOST SUPER USER
MS Ind
My micro-bio was empty.
05:03 PM on 09/04/2012
It's a bit of a stretch top say that the DoJ is "independent" from any presidential administration - especially considering that the President himself makes over 30 appointments to fill positions within the Department.
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HUFFPOST SUPER USER
Tar Heel Bill 92
Progressive registered Republican business owner
05:22 PM on 09/04/2012
Fair enough...but the White House is not legally permitted to interfere with or encourage prosecutions or investigations.  Still, the fact remains that the DOJ cannot prosecute the financial industry cronies if there are not laws which were violated. The criticism otherwise is moot and pure political attack not rooted in fact.
HUFFPOST SUPER USER
Robert SF
04:38 PM on 09/04/2012
That would have been better in bullet-list form, but nobody can seriously deny that the points are true. Whether we blame Obama or not, they are true.
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HUFFPOST SUPER USER
sailka
honesty, morality, societal concern always
03:14 AM on 09/05/2012
Why not Place The Blame: The Republican Congress and Biggest Money that controls them.
HUFFPOST SUPER USER
Robert SF
11:15 AM on 09/05/2012
Because the buck stops with the President.
SaveRMiddle
An ExConsumer by choice
04:28 PM on 09/04/2012
This nation's current Labor Force Participation Rate and Employment-Population Ratio tell no lies.
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HUFFPOST SUPER USER
HabeusPorpoise
2 wrongs are only the beginning
04:24 PM on 09/04/2012
All of these are very legitimate complaints to level against Obama. I have no idea why Republicans insist on running with the birther nonsense & laughable hyperbole, when they have this ammo they aren't using.
04:27 PM on 09/04/2012
Because the republican agenda is the same and they would be criticizing themselves.
The elite intend to take this system to the end.
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HUFFPOST SUPER USER
HabeusPorpoise
2 wrongs are only the beginning
04:28 PM on 09/04/2012
You hit the nail on the head.
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HUFFPOST SUPER USER
tgwrh
Stop the congressional obstruction.
04:19 PM on 09/04/2012
All of which have been said over and over around here, falling upon deaf ears who just choose to simply whistle past the graveyard, blindly speaking of Change... Barak O'Bushma.
04:16 PM on 09/04/2012
All I need to know is that electing Romney and Ryan will make things worse, Obama is better but not good, and that the entire system is completely and irrecoverably broken ..

Enjoy the ride you peasants . . Your dream of being middle-class is over . .

Now just be glad that you're not living under a freeway overpass (That is unless you are)
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marignymitch
E pluribus unum percent
04:16 PM on 09/04/2012
I reject HuffPo slideshows.
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ModerateCentrist
Independents think for themselves
04:26 PM on 09/04/2012
Funny, i just wrote pretty much the same thing - so, which of you mods deleted my comment?
HUFFPOST SUPER USER
texas friend
04:15 PM on 09/04/2012
This is the best article I have ever seen on Huff Post......very fair and balanced
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HUFFPOST SUPER USER
SURFERMOM
taking pics of surfer son
03:38 PM on 09/05/2012
It's not an article it's a group of slide shows with links to 14 other articles that Huff Post has already posted.
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HUFFPOST SUPER USER
JPJABBER
'twas brillig and the slithey tode...
04:10 PM on 09/04/2012
Who wrote this thing..........a staffer from FOX???????

I notice there's no by-line>>>>
nothingchanges
too soon old, too late smart
04:09 PM on 09/04/2012
Campaign finance as currently practiced, in the United States of America, is nothing short of State Sanctioned, Legalized, Bribery.

With that as it's foundation.

How can ANY government we elect, NOT be corrupt?
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HUFFPOST SUPER USER
MS Ind
My micro-bio was empty.
04:09 PM on 09/04/2012
Is it just me, or are nearly all of the things in that slideshow items that democrats often use as talking points against Republicans?
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07:05 PM on 09/04/2012
I guess that no one sent them the memo from We The People that told them we know there is no difference between what they DO - there's only a difference in what they say and how they say it.

Choose your Jim Jones Jonestown "style".
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HUFFPOST SUPER USER
Karen Gentile
If we amplify everything, we hear nothing.
04:02 PM on 09/04/2012
That, I could have done without. Just reminds me to prioritize ....and corporations are not people...and people should matter more...makes me want a backpack and cash to just move out, way out....too much bs..priorities....

obama 2012
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03:51 PM on 09/04/2012
#1 thing OBama doesn't want u to know:
the fundamentals behind his fiscal + monetary + foreign policies are the same as George bush and mitt Romney.
slogans and propaganda are a little different, but deficits + debts + wars will not change
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ModerateCentrist
Independents think for themselves
04:21 PM on 09/04/2012
Exactly. But people believe what they want to believe.
09:14 AM on 09/05/2012
Funny how huge multi trillion dollar economies are kinda hard to change. Especially when there is an entrenched conservative base with their heals dug in. When Obama came into office the country was in the beginning of an economic collapse of epic proportions. Bush, Paulson, Bernanke, and Geithner had set the terms of preventing the crash from becoming complete. Trying to change that could have caused a depression worse than the 1930's.