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originally posted by: DanteGaland
a reply to: Logarock
Their retirements were GAMBLED on the stock market. There USED to be this thing called a pension. It was a BENEFIT to entice hard work and QUALITY employees.
You were PAID a percentage of your salary once retired without RISKY investments.
American workers are LOOSING ... The power of the WORKER has declined for years now.
“I will fight to reinstate a 21st Century Glass-Steagall Act to clearly separate commercial banking, investment banking and insurance services,” Sanders said Tuesday, referring to a law established during the Great Depression that was weakened and repealed under presidents Ronald Reagan and Bill Clinton. “Real Wall Street reform means breaking up the big banks and re-establishing firewalls that separates risk taking from traditional banking.”
“Hillary would appoint people who think Dodd-Frank is mostly successful and just needs a little more work,” he said. “Bernie would appoint people who think our financial system is a massive problem and needs a major overhaul.”
She suggested, according to the transcript of one appearance, that Dodd-Frank was enacted “for political reasons” because the press was saying the Great Recession was “the fault of Wall Street” and that “the jury is still out” on the law’s effectiveness. She was also quoted as saying that postcrisis regulations were suppressing lending. The Clinton campaign has neither confirmed nor denied the material being posted by WikiLeaks is authentic.
The element of Dodd-Frank that has irked many business owners in particular has been the law’s higher reserve requirements, which means that banks need to hold a far higher percentage of their assets in cash than they were required to hold prior to the financial crash. Big reserve requirements consequently limit a bank’s ability to hold marketable securities and connect business with buyers to take on bonds and invest. Likewise, critics generally believe that issuing bigger reserve requirements for banks makes them less willing to lend to startups and small businesses with little collateral.
Dodd-Frank also increased capital reserve requirements for banks as a percentage of total bank assets. Since banks make money from lending, maintaining a higher percentage of assets in cash reduces the bank's profitability. Because the bank’s cost of underwriting a $100,000 loan is the same as a $1 million loan, banks that are pressed to increase profitability will prefer to underwrite larger loans. This is alarming, because approximately 80% of small businesses seek loans smaller than $500,000. By increasing capital reserve requirements and regulatory costs, many small banks facing a profit crunch have been forced to close or consolidate.
originally posted by: vonclod
Jeezus..am I missing something here? they want to undo the measures taken to prevent the financial powers that be, from crashing and screwing everybody, and being rewarded for doing so..AGAIN??
originally posted by: toysforadults
Apparently you guys don't understand how a free market is suppose to work.
Seriously am I the only free market person left on the boards?