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[TheLostBigBoss]

Oh I thought it was this:

http://blogs.wsj.com/moneybeat/2015/06/17/barney-frank-yes-that-barney-frank-joins-a-bank-board/

Oh no he's working in an industry he knows incredibly well

Signature is a $29 billion bank that primarily works with privately-owned businesses. The 14-year old bank has been growing rapidly and performing well at a time when other banks have struggled. Last quarter it posted its 22nd consecutive quarter of record earnings.

“I like this business model in particular,” Mr. Frank said in an interview. “They don’t get involved with exotic derivatives and credit default swaps.” He also described himself as “very supportive of banking.”

Mr. Frank retired from Congress in January 2013 and is now an author, NBC contributor and public speaker, according to his Twitter profile. He said this is his first board appointment. “I was flattered to be asked,” he said.

He's clearly being paid off to destroy the economy, good eyes Godslay

 

[blackw0lf]

Sorry I'm not reading that letter as threatening to "grind the convention to a halt"

 

[Tabris]

I wonder why people praise Frank.

Dodd-Frank hasn't done anything to shrink the size of the too big to fail banks. Almost all the US major banks keep getting bigger and bigger.

Bank Total assets, 2014 (B) Total deposits, 2014 (B) Total assets, 2013 (B) Total deposits, 2013 (B)
BNY Mellon $385 $266 $374 $261
Bank of America $2,105 $1,119 $2,102 $1,119
Capital One $309 $206 $297 $205
Citigroup $1,833 $897 $1,881 $968
HSBC $290 $111 $290 $110
JPMorgan Chase $2,573 $1,363 $2,416 $1,288
PNC $345 $232 $320 $221
State Street $274 $209 $243 $182
U.S. Bancorp $403 $283 $364 $262
Wells Fargo $1,687 $1,168 $1,527 $1,079
Source: SNL Financial

 

[Suikoguy]

Oh I thought it was this:

http://blogs.wsj.com/moneybeat/2015/06/17/barney-frank-yes-that-barney-frank-joins-a-bank-board/

Are you really trying to disparage Barney Frank?

Wow

 

[Armaros]

I wonder why people praise Frank.

Dodd-Frank hasn't done anything to shrink the size of the too big to fail banks.

Bank
Total assets, 2014 (B) Total deposits, 2014 (B) Total assets, 2013 (B) Total deposits, 2013 (B)
BNY Mellon $385 $266 $374 $261
Bank of America $2,105 $1,119 $2,102 $1,119
Capital One $309 $206 $297 $205
Citigroup $1,833 $897 $1,881 $968
HSBC $290 $111 $290 $110
JPMorgan Chase $2,573 $1,363 $2,416 $1,288
PNC $345 $232 $320 $221
State Street $274 $209 $243 $182
U.S. Bancorp $403 $283 $364 $262
Wells Fargo $1,687 $1,168 $1,527 $1,079
Source: SNL Financial

I wonder why posting the size of the banks means anything?

Its not like Bernie has an idea for how to breaking them up?

Also Breaking up banks =\= Only way to regulate banks.

 

[balladofwindfishes]

I wonder why posting the size of the banks means anything?

Its not like Bernie has an idea for how to breaking them up?

He can fit his ideas for breaking them up on one of Ted Cruz's post cards.

 

[Saint Gregory]

It's amazing how a year can change someone's opinion. I went from liking Bernie Sanders, to being indifferent, to now just wishing he would go away and stop.

At this point I really feel Barney Frank's 1991 assessment of Sanders was 100% correct.

"His holier-than-thou attitude - saying in a very loud voice he is smarter than everyone else and purer than everyone - really undercuts his effectiveness"

"To him, anybody who disagrees with him is a crook; there are no honest disagreements with people. Bernie's view of the world is that the great majority of people agree with him on all the issues and the only reason he does not win is that the Congress is crooked"​

I said goddamn when I got to this part. It reads like a prophecy, just replace congress with the DNC/Hillary. Please see this dude for what he is really Sanders supporters!!!

 

[A Black Falcon]

Wow. Props to Barney for handling that well. Sanders, stop being so fucking petty, wtf.

While watching him answer questions from hecklers, we were wondering, should he be responding to them, or ignoring them? Should you give those people attention? I thought that it's a lose-lose situation, in that if you ignore the heckler you get hit for it afterwards but if you respond you also get criticized, but it probably was better to respond than to just ignore them.

And lines like "one heckler at a time, please" were pretty funny. He's an amusing guy. But still, that is not the kind of behavior you should ever see from delegates at a party convention! That video (see the link in my last post) is well worth watching.


And on that note, some people running for national delegate on the Bernie side were promising to vote for Bernie on every ballot even if it took 100 ballots. I don't think they won, hopefully, but still... that's not how you behave at a national convention.

 

[Toxi]

I don't know why the Sanders campaign is doing this.

They won't fucking win. They can't fucking win. Any chance of the superdelegates swinging their way disappeared a long time ago.

 

[Blader]

I wonder why posting the size of the banks means anything?

Its not like Bernie has an idea for how to breaking them up?

Also Breaking up banks =\= Only way to regulate banks.

Let the banks break themselves up, of course!

 

[sturgboski]

All I'm reading is "Congratulations President Trump." Thank you Bernie.

 

[Mobius 1]

Not like this.

 

[kirblar]

I don't know why the Sanders campaign is doing this.

They won't fucking win. They can't fucking win. Any chance of the superdelegates swinging their way disappeared a long time ago.

Because Bernie Sanders is awful.

 

[Almighty]

If the democrats could stop the infighting, let Hillary focus on the general and delivering good downticket results to secure a healthy margin in the senate, then and only then will you see progress for liberal causes. Hillary will without a doubt go as far left as she can once she's in office.

I don't see it. Do I think Clinton would go further left if she could? Yes I do. Do I think she would ever go as left on economic and other key issues as I would like, even if she had vast majorities in the senate and congress? No I don't.

That is all I hoped Bernie Sanders would do when he first announced his run. Just pull Clinton slightly further left then she would have felt comfortable going publicly otherwise. Sadly I didn't think his unexpected success would go to his head and he would off the deep end like this. The only way he could further disappoint me at this point is by running third party in key swing states.

 

[JetBlackPanda]

I don't know why the Sanders campaign is doing this.

They won't fucking win. They can't fucking win. Any chance of the superdelegates swinging their way disappeared a long time ago.

The crazy bastard thinks crooked Hillary and the DNC scammed him out of this. The scary thing is the closer to being eliminated the more it seems he wants to burn it all down.

 

[Tabris]

I wonder why posting the size of the banks means anything?

Its not like Bernie has an idea for how to breaking them up?

Also Breaking up banks =\= Only way to regulate banks.

You didn't answer the question though. His regulation isn't doing anything to slow down too big to fail.

Also these major banks haven't passed the fed stress tests still, so again, how is this regulation handling this too big to fail issue?

 

[balladofwindfishes]

All I'm reading is "Congratulations President Trump." Thank you Bernie.

Nah, thanks to Donald Trump being Donald Trump and his demographics being awful, we'll still pull this out, but it won't be the grand slam we were hoping for.

Even with Bernie's crazy fan club, Hillary still polls comfortably above Trump, so it should be fine even if all his supporters who threaten to not vote actually do so (they probably will vote for Hillary anyway)

 

[Horns]

Bernie needs to drop out. Stop with the demands of the party he's all to happy to throw under the bus.

 

[catmincer]

He's pathetic, absolutely pathetic. This is what a fucking child does.

 

[StickSoldier]

Yeah like wtf. Bernie had my full fledged support at the start, he seemed like a genuine, nice, and caring person, but has turned into what I never expected or wanted. He seems like a bitter man, who can't accept defeat, and ultimately has turned into a sore loser that's going to end up hurting the people whom he tries to tirelessly fight for, or so he says. I'm starting to wonder now honestly.

If Trump wins, Mr. Sanders is going to have to take a huge part in allowing the takeover of an evil man that could further throw us into a low point in racial relations, which seems pretty bad as it is.

 

[Tabris]

EDIT - Don't want to derail the subject so I'll leave it to my Dodd-Frank comment.

 

[eBay Huckster]

okay, "disenfranchise rural americans because they don't vote like i want them to" man, please proceed with regards to merits

 

[giga]

I wonder why people praise Frank.

Dodd-Frank hasn't done anything to shrink the size of the too big to fail banks. Almost all the US major banks keep getting bigger and bigger.

Bank Total assets, 2014 (B) Total deposits, 2014 (B) Total assets, 2013 (B) Total deposits, 2013 (B)
BNY Mellon $385 $266 $374 $261
Bank of America $2,105 $1,119 $2,102 $1,119
Capital One $309 $206 $297 $205
Citigroup $1,833 $897 $1,881 $968
HSBC $290 $111 $290 $110
JPMorgan Chase $2,573 $1,363 $2,416 $1,288
PNC $345 $232 $320 $221
State Street $274 $209 $243 $182
U.S. Bancorp $403 $283 $364 $262
Wells Fargo $1,687 $1,168 $1,527 $1,079
Source: SNL Financial

Because shrinking the size of a large bank doesn't equal financial stability. Dodd-Frank addresses many of the risks that are inherent from interconnectedness, complexity, and illiquidity that can come from any sized bank, including medium sized ones like Lehman was, and provides a process for resolution in the event of failure. To say it doesn't deserve praise because it hasn't shrunk the asset sizes of banks misses the forest for the trees.

 

[sangreal]

Sorry I'm not reading that letter as threatening to "grind the convention to a halt"

The last paragraph is a thinly veiled threat to do exactly that. Did you really think they meant they would just file one motion and call it a day?

 

[sturgboski]

Nah, thanks to Donald Trump being Donald Trump and his demographics being awful, we'll still pull this out, but it won't be the grand slam we were hoping for.

Even with Bernie's crazy fan club, Hillary still polls comfortably above Trump, so it should be fine even if all his supporters who threaten to not vote actually do so (they probably will vote for Hillary anyway)

Its the fervent people in his support club falling to blind idolatry that scare me. All the Bernie or bust folks. Not to mention that every minute of this farce continues to degrade the Democratic party and Hillary. I grow less and less confident by the day because this man can't put his ego aside and has bought into his own cult of personality.

 

[SenorArdilla]

Bernie, please go.

 

[eBay Huckster]

Because shrinking the size of a large bank doesn't equal financial stability. Dodd-Frank addresses many of the risks that are inherent from interconnectedness, complexity, and illiquidity that can come from any sized bank, including medium sized ones like Lehman was, and provides a process for resolution in the event of failure. To say it doesn't deserve praise because it hasn't shrunk the asset sizes of banks misses the forest for the trees.

It doesn't miss the forest for the trees, because there are no forests allowed in Tabris land.

It misses the forest for the 5-story mixed-use building that looks exactly the same as everything else within 6 blocks on the same street.

 

[CassidyIzABeast]

Petty Sanders

 

[Roland_Gunner]

You didn't answer the question though. His regulation isn't doing anything to slow down too big to fail.

Also these major banks haven't passed the fed stress tests still, so again, how is this regulation handling this too big to fail issue?

Because looking at absolute size is a terrible metric for risk. Leverage ratio is much, much more valuable since it shows the risk financial institutions are taking. After Dodd - Frank and the higher capital levels required by the Fed, leverage has been greatly reduced without crippling the economy.

http://www.alt-m.org/2016/05/12/two-cheers-for-the-leverage-ratio/

 

[Justin]

You either concede a hero or campaign long enough to become a villain.

 

[Tabris]

Because shrinking the size of a large bank doesn't equal financial stability. Dodd-Frank addresses many of the risks that are inherent from interconnectedness, complexity, and illiquidity that can come from any sized bank, including medium sized ones like Lehman was, and provides a process for resolution in the event of failure. To say it doesn't deserve praise because it hasn't shrunk the asset sizes of banks misses the forest for the trees.

I don't think it is personally, because these banks are still failing the fed stress tests and there's no ramifications to them not passing these.

They essentially built the tests but didn't build the enforcement, or at least not in practice.

 

[Maengun1]

Every day a new Bernie story for me to do this to

 

[balladofwindfishes]

Its the fervent people in his support club falling to blind idolatry that scare me. All the Bernie or bust folks. Not to mention that every minute of this farce continues to degrade the Democratic party and Hillary. I grow less and less confident by the day because this man can't put his ego aside and has bought into his own cult of personality.

I haven't really noticed any ill effects on Hillary so far with his nonsense. Polls are shifting back to where they were pre-Trump confirmed candidate, so we know that was just a bump and not a new trend.

You either concede a hero or campaign long enough to become a villain.

I kind of wonder if Bernie is a text book case of power corrupting. All his political life nobody paid attention to him. He would often debate in an empty room and ramble on with only the crazy cat ladies who watch CSPAN at 11am on a Thursday as an audience.

To go from that to talking to millions in stadiums, people chanting his name. People quoting him, taking his message and trying to make it happen. He was within reach of the presidency, and lost it. Not because of fraud or anything, it was completely because of his own problems, but he won't admit that. Now he feeds off that attention and demands it. He's an addict, he needs his fix, and if the mean ol' DNC wants to cut him off, he won't go down without a fight.

It kind of feels like if this was a comic book, this would be the start of Bernie Sanders' fall from grace, his villain origin story.

 

[Vice]

I wonder why people praise Frank.

l

He has a long history of being a prominent progressive figure in the US. While Dodd-Frank isn't entirely effective it's more than what most have done. Has beliefs on civil rights, crime and drug policy that fall in line with many left leaning people. He's also one of the few prominent homosexual political figures in the USA.

 

[Dan]

To quote Willy Wonka: "You get nothing! You lose! Good day, sir!"

Bets on how many days it will take Bernie to renounce the letter D next to his name after he loses? I give it a week.

The only place it's next to his name is on primary ballots. He doesn't even need to renounce, it'll just happen.

 

[Armaros]

I don't think it is personally, because these banks are still failing the fed stress tests and there's no ramifications to them not passing these.

They essentially built the tests but didn't build the enforcement, or at least not in practice.

Maybe that's because you only care about symbolically breaking up the banks, and not actual sound financial stability within the banking system.

 

[exmachina64]

That's my man Bernie keeping it classy!

 

[eBay Huckster]

Maybe that's because you only care about symbolically breaking up the banks, and not actual sound financial stability within the banking system.

You're being charitable to what he actually cares about: the CAD not being a running joke again

 

[sturgboski]

I don't think it is personally, because these banks are still failing the fed stress tests and there's no ramifications to them not passing these.

They essentially built the tests but didn't build the enforcement, or at least not in practice.

Weird because they are already talking about what is going to happen this fall at the banks for failed the living will test. But please follow a politician who knows nothing of the financial industry and just thinks "eh it will be simple to break them apart and everything will sort itself out" without thinking of the massive ramifications of doing just that.

 

[Tuck]

I have a question. Since I'm Canadian I don't know the full details of how the US system works.

A lot of people in here are saying things like "If Trump wins, it'll be Bernie's fault" and acting like a non-unified democratic party at the convention is a bad thing.

Which... is confusing, for a few reasons. Isn't the convention to decide the nominee? So why is it the end of the world that this guy doesn't want to give up till then? Especially since its only just two months away? Shouldn't that be how things are supposed to work? What makes this convention that important that things need to be decided months beforehand? Plus the republicans have their own fiasco going on, so I'm having trouble seeing why this is such a big deal.

Plus people are acting like Bernie is evil for going against the party. But my understanding is he was never really a democrat to begin with? He only went with them cause running as an independent would have gotten him no where?

A non-snarky explanation would be sincerely appreciated.

 

[Tabris]

Maybe that's because you only care about symbolically breaking up the banks, and not actual sound financial stability within the banking system.

You are putting Bernie's words into my mouth.

Here is how I think banking regulation should be done:

http://laws-lois.justice.gc.ca/eng/acts/b-1.01/

 

[Big Baybee]

Way to be reasonable, Bern. Holy shit

 

[Ogodei]

I wonder why people praise Frank.

Dodd-Frank hasn't done anything to shrink the size of the too big to fail banks. Almost all the US major banks keep getting bigger and bigger.

Bank Total assets, 2014 (B) Total deposits, 2014 (B) Total assets, 2013 (B) Total deposits, 2013 (B)
BNY Mellon $385 $266 $374 $261
Bank of America $2,105 $1,119 $2,102 $1,119
Capital One $309 $206 $297 $205
Citigroup $1,833 $897 $1,881 $968
HSBC $290 $111 $290 $110
JPMorgan Chase $2,573 $1,363 $2,416 $1,288
PNC $345 $232 $320 $221
State Street $274 $209 $243 $182
U.S. Bancorp $403 $283 $364 $262
Wells Fargo $1,687 $1,168 $1,527 $1,079
Source: SNL Financial

You can see the impact in Wall Street's political giving. 2008 Presidential election it was something like 55:45 R, 2012, post Dodd-Frank, and it was something like 70:30.

 

[B-Dubs]

You either concede a hero or campaign long enough to become a villain.

According to Frank this is just who he is. Bernie's always been like this, people just didn't listen to the warning.

 

[OnPoint]

Was loving Bernie at first but it's time to hang em up pal. You fought hard, you did good, but you lost.

 

[Knuckle Sandwich]

Call this egotistical motherfucker's bluff.

 

[ItWasMeantToBe19]

I mean, the Scandinavian countries that Bernie envies have giant, nationalized banks.

*shrug*

 

[eBay Huckster]

I have a question. Since I'm Canadian I don't know the full details of how the US system works.

A lot of people in here are saying things like "If Trump wins, it'll be Bernie's fault" and acting like a non-unified democratic party at the convention is a bad thing.

Which... is confused, for a few reasons. Isn't the convention to decide the nominee? So why is it the end of the world that this guy doesn't want to give up till then? Especially since its only just two months away? Plus the republicans have their own fiasco going on, so I'm having trouble seeing why this is such a big deal.

A non-snarky explanation would be sincerely appreciated.

Because Clinton will clinch a majority of pledged delegates on June 7th, will indisputably clinched a popular-vote majority, and absent a tiny meteor striking her and putting her into a coma there's no way the superdelegates are actually changing their minds with all the shit Sanders has flung their way.

It's effectively over on June 7th. Taking it to the convention is unnecessary and may well basically hand this to Trump given the precedent of convention fuckery (1968, 1972, 1980).

I mean, the Scandinavian countries that Bernie envies have giant, nationalized banks.

*shrug*

The banking system in which Tabris is allowed to operate is significantly more concentrated than the United States', yet crickets.

 

[Jenov]

I mean, the Scandinavian countries that Bernie envies have giant, nationalized banks.

*shrug*

Break 'em up!!!

 

[cdyhybrid]

I have a question. Since I'm Canadian I don't know the full details of how the US system works.

A lot of people in here are saying things like "If Trump wins, it'll be Bernie's fault" and acting like a non-unified democratic party at the convention is a bad thing.

Which... is confusing, for a few reasons. Isn't the convention to decide the nominee? So why is it the end of the world that this guy doesn't want to give up till then? Especially since its only just two months away? Shouldn't that be how things are supposed to work? What makes this convention that important that things need to be decided months beforehand? Plus the republicans have their own fiasco going on, so I'm having trouble seeing why this is such a big deal.

Plus people are acting like Bernie is evil for going against the party. But my understanding is he was never really a democrat to begin with? He only went with them cause running as an independent would have gotten him no where?

A non-snarky explanation would be sincerely appreciated.

The point is that every second he spends fighting an unwinnable fight is a second that could have been spent convincing his hardcore supporters to vote for Hillary (who is going to be the nominee) instead of taking their ball and going home or voting for Trump out of spite.