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BREAKING: Senate Votes For Wall Street; Megabanks To Remain Behemoths

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posted on May, 7 2010 @ 07:36 AM
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Senate Votes For Wall Street; Megabanks To Remain Behemoths


www.huffingtonpost.com

A move to break up major Wall Street banks failed Thursday night by a vote of 61 to 33.

The amendment [...] would have required megabanks to be broken down in size and capped so that their individual failure would not bring down the entire system.
(visit the link for the full news article)



[edit on 7/5/2010 by serbsta]




posted on May, 7 2010 @ 07:36 AM
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It's plainly obvious who's in bed with who. Not that the American people needed this blatant IN YOUR FACE vote to let them know their government literally does not give a damn about them, but here it is anyway.



In practice, the amendment required the six biggest banks -- Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley -- to significantly scale down their size. It was touted as a way to end Too Big To Fail.


Blatantly voting AGAINST the interests of the people, even just a week after the latest Goldman Sachs revelations. It's a spit in the face.



www.huffingtonpost.com
(visit the link for the full news article)



posted on May, 7 2010 @ 07:41 AM
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You're KIDDING? Whew... never would have guessed that one! hehe

Completely ridiculous.... This furthers shows their true colors and will surely be spun by the mainstream media as the best possible outcome.



posted on May, 7 2010 @ 07:51 AM
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I want... no, I NEED to see the vote roll so that I know exactly which Senators to campaign against!!!


I have to wonder... how much in campaign contributins did it take to buy those Senators? Until money is removed from the election equation, people can expect to see more and more and more of this same crap!



posted on May, 7 2010 @ 07:57 AM
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Dude, why waste your time campaigning for any of those douche bags.

It's kinda like TV wrestling... They stand up and vote and talk crap on each other for the TV and then when the show's over, they go backstage, drink wine and congratulate each other on being masters of the universe.

Maybe it's just me... But, I think "democracy" is simply the illusion of choice. Another form of control to keep the sheeple happy.

BTW, don't take that as a personal shot against you... it certainly wasn't!



posted on May, 7 2010 @ 08:00 AM
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reply to post by serbsta
 


Want to see something worse?



Last-minute maneuvering in the Senate allowed the Federal Reserve to sidestep legislation that would have exposed its interest-rate decision-making to congressional auditors.

Pressure from the Obama administration led Senate lawmakers to alter a provision pushed by Sen. Bernie Sanders (I., Vt.) that was gaining momentum despite opposition from the Treasury and the Fed. It would have largely repealed a 32-year-old law that shields Fed monetary policy from congressional auditors.


Source



posted on May, 7 2010 @ 08:13 AM
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Originally posted by kozmo
I want... no, I NEED to see the vote roll so that I know exactly which Senators to campaign against!!!


I have to wonder... how much in campaign contributins did it take to buy those Senators? Until money is removed from the election equation, people can expect to see more and more and more of this same crap!


Here you go. www.abovetopsecret.com...

[edit on 5/7/10 by Misoir]



posted on May, 7 2010 @ 08:20 AM
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Those cowards.

They're all sellouts. They're all owned by the banks and they're just thieves. They call themselves representatives of the people?

This could have been the last real chance to save the USA and EU and stop this madness before the global economy collapses. Now what happens? More financial terrorism until they take everything from the American people? Until all of Europe is impoverished?


Pressure from the Obama administration led Senate lawmakers to alter a provision pushed by Sen. Bernie Sanders (I., Vt.) that was gaining momentum despite opposition from the Treasury and the Fed. It would have largely repealed a 32-year-old law that shields Fed monetary policy from congressional auditors.


So wait. Not only no audit, but also they haven't changed the Fed charter to stop them using that provision either? That is even worse.



posted on May, 7 2010 @ 08:39 AM
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Originally posted by kozmo
I want... no, I NEED to see the vote roll so that I know exactly which Senators to campaign against!!!



That's maybe a good business idea?

Set up a web site and a data-base with all this information of these people, how they voted on certain things and where they are getting their money from and so on. etc etc!

All this information collected at just one click away!

Like any other business Intelligence or financial information sites!

It would certainly help average people to know more on how to vote, and it would certainly turn up the heat on these pesky corrupt charlatans - keeping them more honest as well perhaps?

Just imagine how many hits you would get just from lazy journalists!


Charge them $19.99 for the information - and make the pixels copy protected!


Damn! If I was an American I might would have done something like this!



posted on May, 7 2010 @ 08:41 AM
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reply to post by serbsta
 


Wait a minute you guys are wanting the Federal Government to break up banks? Even though they do not hold a monoply? Ummmmm Are you serious?

Instead of breaking them up let them fail, dont bail there asses out anymore.... Now thats American, I am glad this bill failed, (except for the audit the fed) the government has to much damn power.... No more bailouts let them fail.



posted on May, 7 2010 @ 08:47 AM
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Originally posted by poedxsoldiervet
reply to post by serbsta
 


Wait a minute you guys are wanting the Federal Government to break up banks? Even though they do not hold a monoply?


Did you read the story posted by the OP? It clearly stated how big they are. And there are more bank closures every month.

Because of their size, if they fail it will destroy the financial system. So their size should be reduced.

I really hoped it would be done pre-emptively before the sovereign debt crisis exploded. It might have shielded us. What will happen if these banks fail because of what is going on in the EU?

[edit on 7-5-2010 by belial259]



posted on May, 7 2010 @ 08:58 AM
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Let's see... what happened that could have influenced this vote?

Oh yeah... the mysterious 1,000 point/trillion dollar hiccup in the market.....

.... nah! can't be, right?


PS - The subsidiaries of the transnational banking cartel don't hold the monopoly... it's the banking cartel itself that holds the monopoly. But since it's transnational and not exclusively American "we" can't call it a monopoly.....



posted on May, 7 2010 @ 09:09 AM
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Originally posted by Ouroborus2012
Dude, why waste your time campaigning for any of those douche bags.

It's kinda like TV wrestling... They stand up and vote and talk crap on each other for the TV and then when the show's over, they go backstage, drink wine and congratulate each other on being masters of the universe.

Maybe it's just me... But, I think "democracy" is simply the illusion of choice. Another form of control to keep the sheeple happy.

BTW, don't take that as a personal shot against you... it certainly wasn't!


That pretty much sums it up. Politics works in clique's. It's all about who you know, support, and get supported by.

A farce if you think about. If each representative was actually doing their job the government wouldn't be this big...and ths country won't be in the position it's in.

I wonder how long it's gonna be before it blows up in our faces..



posted on May, 7 2010 @ 09:26 AM
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reply to post by belial259
 



Look, I understand the point behind it, But you don’t have to bank with those banks... I no longer do after the bailouts, I bank with Credit Unions, and every two years we elected board officers, and the can only being on the board once. That’s how you the citizens bust up these two big to fail banks. Yes I pay a fee for belonging to this credit union but it’s made up in interest I earn on my money I let them hold.

Can they fail sure. But they only loan money out to customers who have accounts with them so Joe Schmooze on the street can't get a loan, unless he is vested in the bank.

No I am not a rich guy My wife and I make 45,000 a year combined, and I am going through a foreclosure with BOA because they are stupid.

We cannot continue to allow the Federal Government to play god, they got us in this mess with forcing these banks to make loans to people who should not be able to get loans.



posted on May, 7 2010 @ 11:23 AM
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From the same article linked in the OP:


The top 12 banks in the U.S. control half the country's deposits. By comparison, it took 25 banks to accomplish this feat in 2003 and 42 banks in 1998, according to a Jan. 4 research note by Jason M. Goldberg of Barclays Capital.


That's just plain scary. In 7 years, the wealth was concentrated into half as many banks. It took even less time to concentrate the wealth to under two thirds of the banks in just 5 years (from '98 to '03).

This is insane!


It's official, congress could give a crap about what is good for this country and it's citizens. It's all about corporations and banks.

edit to add clarity

[edit on 7-5-2010 by nunya13]



posted on May, 7 2010 @ 02:33 PM
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Originally posted by cenpuppie

Originally posted by Ouroborus2012


That pretty much sums it up. Politics works in clique's. It's all about who you know, support, and get supported by.

A farce if you think about. If each representative was actually doing their job the government wouldn't be this big...and ths country won't be in the position it's in.

I wonder how long it's gonna be before it blows up in our faces..




In reality, it only blows up in our faces when it's scheduled to.. Nothing HAS to blow up, if they need money they simply print more. It goes this way across the world really... In my opinion, whatever is going on right now is going on because it's supposed to be going on. Whatever agenda is being served and we simply do nothing about it..

The sheeple are all happy. The powers give a little here, take a lot there...The sheeple are quelled as TPTB make them think their particular political party is doing the right thing .. Give them ridiculous TV shows that generate a "reality" that doesn't exist... Give them "news" that is bias to their feelings instead of truth.. Eek out technology so whatever country it is can tout its "technological superiority" over the universe and leave the sheeple in awe... Release some fake terrorist video every now then to instill more fear and hatred, whenever the the sheep start to wake up a bit and look around.. Meanwhile, they plunder, spread war instead of peace, suck our pockets dry, hide greater technology, create weapons to kill instead of help, ensure that we forget that we are a world of sentient beings and take away our inherent freedoms as HUMAN BEINGS... it's sickening

Unfortunately, this is the reality we live in. People are beginning to wake up but we still don't realize that we outnumber them and
we are the only ones who can make things change... Perhaps somebody the world will find a way to unite and make this the planet and our species what it deserves to be!

Until then, i'll simply enjoy sitting on the sideline and watching the sideshow with the rest of you other fine people on ATS who have taken the red pill!!




posted on May, 7 2010 @ 02:40 PM
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I actually just got done reading an amendment that was slammed to this bill yesterday and noticed something.....odd. The bill limits the amount of deposits, etc. one bank can control, and gives the Senate Banking committee the authority to set what deposits and assets, after the "realignment", each bank can own. But it never states where all of the overflow deposits and assets that are taken and "realigned" end up. I wonder why that is?


[edit on 7-5-2010 by djvexd]



posted on May, 7 2010 @ 02:50 PM
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Originally posted by poedxsoldiervet
reply to post by serbsta
 


Wait a minute you guys are wanting the Federal Government to break up banks? Even though they do not hold a monoply? Ummmmm Are you serious?

Instead of breaking them up let them fail, dont bail there asses out anymore.... Now thats American, I am glad this bill failed, (except for the audit the fed) the government has to much damn power.... No more bailouts let them fail.


The government may have too much power in certain aspects of our lives. However, the financial firms and the multinational corporations possess much much more. They are the ones who are influencing government policy. Perhaps if their power and influence was limited, politicians might begin to listen to their constituents once again. As long as money talks, however, that will never happen.

What is currently happening is as far from what your founding fathers envisioned for your country as you could possibly get. In fact, I think that they would be rolling in their graves if they knew what was currently transpiring within the USA.

I seem to recall many warnings from your founding fathers regarding the dangers of allowing international banking institutions to take control of your country, and that is exactly what has been allowed to happen.



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