Big Banks Move Into Uranium Mining, Petroleum Products, Aluminum, Ownership and Operation Of Airports, Toll Roads, and Ports, and Electricity
Top economists, financial experts and bankers say that the big banks are too large … and their very size is threatening the economy.
They say we need to break up the big banks to stabilize the economy.
They say that too much interconnectedness leads to financial instability.
They also say that the big financial players are able to manipulate virtually every market in the world.
And that the government has given the banks huge subsidies … which they are using for speculation andother things which don’t help the economy.
But the big banks have only gotten bigger – and more interconnected – than before the phony financial “reform” legislation was passed a couple of years ago.
As if that wasn’t bad enough, four congressmen point out that the big banks are not taking over thetangible economy as well … which allows them to control and manipulate the markets.
Specifically, Congressman Grayson wrote – and Congressmen Conyers, Ellison and Grijalva co-signed – a letter to the Federal Reserve which, in the words of a congressional aide:
Ask[ed] why large banks are engaged in a host of commercial activities, including power production, management of ports, oil drilling and distribution, and uranium mining. These activities have nothing to do with the business of banking and it’s unclear how the Fed or other bank regulators can actually regulate them. There’s useful and somewhat crazy information in the 10Ks of the banks about what they are currently doing. You can find that in the footnotes of the letter.
Here is their letter:
June 27, 2013
The Honorable Ben Bernanke
Chairman
Board of Governors of the Federal Reserve System
Chairman
Board of Governors of the Federal Reserve System
Read more at:-
http://www.washingtonsblog.com/2013/07/giant-banks-take-over-real-economy-as-well-as-financial-system-enabling-manipulation-on-a-vast-scale.html
No comments:
Post a Comment