[speechlesstx]

No risk,high reward.

And yet Dodd-Frank allows the "too big to fail" banks to keep growing bigger without fear of failure.

[talaniman]

That's because republican won't allow regulations to be written. There you go, blaming democrats for your own agenda, screw ups, and shenanigans.

[speechlesstx]

That's because republican won't allow regulations to be written. There you go, blaming democrats for your own agenda, screw ups, and shenanigans.

I cite a regulation named after two Democrats and loved by Obama that not only makes the problem you b*tch about every day worse but screws the taxpayers in the process and you blame us? LOL, too funny.

[talaniman]

Your facts about Dodd Frank are in error. Seriously in error, as I have posted here

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[tomder55]

Dodd-Frank, allegedly a consumer protection law, empowers unelected bureaucrats to institutionalize bailouts and prop up financial institutions they determine are “too big to fail”.It
Represents an unprecedented power grab which tramples on the notions of separation of powers and due process and yes, is injecting instability in the market which will only lead to future economic problems .
Under this law ,the Director of the Consumer Financial Protection Bureau (CFPB),and the Sec Treasury are granted unprecedented and unlimitted power to create rules that will dictate credit allocation.This will directly impact who gets a business loan .The CFPB boss can exercise that power without any oversight by Congress ,the President OR the COURTS as the law is written.
In fact ,the CFPB boss will be the czar of czars being almost immune from replacement ,and may only be removed for neglect or malfeasance in office. Congress can't even hold the power of the purse over the agency . The CFPB's $500 million budget comes entirely from the Federal Reserve's surplus, out of funds that would otherwise be returned to the Treasury Department and ultimately to the taxpayer.

The Financial Stability Oversight Council(FSOC) was created in the Dodd-Frank law .Chaired by the Sec Treasury;it is the sole determiner in deciding which businesses are 'too big to fail ' ("systemically important"). Yes they will face even more burdersome regulations that may make failure inevidible ;but they will also ,by the determination of that Council ,jump to the top of the list of future taxpayer bailouts (and there will be ;the die has already been cast) . This will give these favored businesses unfair advantage over their competitors .
Yes ,Dodd -Frank institutionalizes taxpayer bailouts . It gives the Sec Treasury the power to put a financial institution into an FDIC receivership if he determines the company is in danger of default. and if he feels that the default would hurt the economy. To fund this the FDIC is given authority to tax these companies without Congressional approval .This violates the Separation of powers by restricting judicial review to if the Sec Treasury's determinations are arbitrary and not if he followed the law... AND the court MUST make a determination within 24 hours ,or the Sec.decision stands .
Dodd -Frank is an unconstitutional law that must be over turned in court and/or repealed in the next session of Congress. Already 10s of thousands of new code is being written into law to comply with the law. Nobody doing business this year either knows what tax structure they will operate in next year ;2 months away... or what the law they operate under will be ;or if they will get a business loan .
Consider this ,CFPB Director Richard Cordray told Congress that he believes it is "probably not useful" to try to define in advance what an "abusive" lending practice is. Instead, he intends to use his enforcement powers to retroactively punish lenders based on his view of the "facts and circumstances" of each case. Why would a lender issue a loan if the government can retroactively determine that the lending practice used is illegal ? You remember Cordray right ? He was the czar the President appointed in the recess that wasn't really a recess... another violation of the Constitutional powers of the Senate.

[speechlesstx]

When Huffpo says it's a problem that should open your eyes, but remain in denial.

[talaniman]

QUOTE by tomder55;
Dodd-Frank, allegedly a consumer protection law, empowers unelected bureaucrats to institutionalize bailouts and prop up financial institutions they determine are “too big to fail”

A right wing characterization that is both inacurate and eroneous. Contrary to the true facts both in legislation and implementation.

It represents an unprecedented power grab which tramples on the notions of separation of powers and due process and yes, is injecting instability in the market which will only lead to future economic problems .

Again you have talking points from the right with no facts and seems like you fail to recognize it would take years if not decades to unwind a to big to fail bank, and would rather have things the way they are, and does exactly what you say it doesn't put in place a PROCESS to insulate the rest of us from the greedy criminals who would wreck the economy and get PAID for it!

Doing nothing would be worse I think. MUCH worse.

Under this law ,the Director of the Consumer Protection Bureau ,and the Sec Treasury are granted unprecedented and unlimitted power to create rules that will dictate credit allocation.This will directly impact who gets a business loan .The CPB boss can exercise that power without any oversight by Congress ,the President OR the COURTS as the law is written.

Read he fine print, it's the job of CONGRESS to okay the rules which the republicans and their corporate masters are fighting tooth, and nail. More DUE PROCESS that your side ignores.

The Financial Stability Oversight Council was created in the Dodd-Frank law .Chaired by the Sec Treasury;it is the sole determiner in deciding which businesses are 'too big to fail ' . Yes they will face even more burdersome regulations that may make failure inevidible ;but they will also ,by the determination of that Council ,jump to the top of the list of future taxpayer bailouts (and there will be ;the die has already been cast) . This will give these favored businesses unfair advantage over their competitors .

The determining factor for some regulations will be assets over 50 billion. In case of failure the creditors will be paid, the banks won't be. Read the provided links and cross check. It eliminates a lot of uncertainty for the rest of us and banks too!

Yes ,Dodd -Frank institutionalizes taxpayer bailouts . It gives the Sec Treasury the power to put a financial institution into an FDIC receivership if he determines the company is in danger of default. and if he feels that the default would hurt the economy. To fund this the FDIC is given authority to tax these companies without Congressional approval .This violates the Separation of powers by restricting judicial review to if the Sec Treasury's determinations are arbitrary and not if he followed the law... AND the court MUST make a determination within 24 hours ,or the Sec.decision stands .

You have to show me that one, because it was congress that approved the powers of the regulatory agencys to take proper actions. You can always go to court when you don'tlike something,that's the American way.

Dodd -Frank is an unconstitutional law that must be over turned in court and/or repealed in the next session of Congress. Already 10s of thousands of new code is being written into law to comply with the law. Nobody doing business this year either knows what tax structure they will operate in next year ;2 months away... or what the law they operate under will be

I guess you have a better way of breaking up the banks and stopping their greed from screwing the global economy?

Or do you support letting them do as they please, and screwing the global economy up?? Okay can't blame them for waiting for the new laws and the old ones to be repealed.

When Huffpo says it's a problem that should open your eyes, but remain in denial.

I think Huffpo wants a stricter law not a softer one.

[speechlesstx]

I think Huffpo wants a stricter law not a softer one.

And that's what you get by letting the very Democrats that helped create the mess, that denied there was a problem, regulate it.

[tomder55]

Posted twice

[tomder55]

I got that info from the law suit challenging the constitutionality of Dodd-Frank .

The Treasury is authorized to petition the United States District Court for the District of Columbia to seize banks and any non-bank financial institution that the government thinks is in danger of default and could, in turn, pose a risk to U.S. financial stability. If the entity does not acquiesce or consent to the seizure, the petition proceedings are secret, with a federal district judge given 24 hours to decide “on a strictly confidential basis”whether to allow receivership.

Law Firm Of Pepper Hamilton LLP | Constitutionality Analysis of Certain of the Dodd-Frank Wall Street Reform and Consumer Protection Act

[talaniman]

Thanks Tom, this lawyer makes some compelling arguments, and I would have to have more time to digest it further, but reject the notion that a complex problems won't have complex solutions.

And I still challenge your adjectives.

[speechlesstx]

A "solution" that compounds the problem is no solution.

[talaniman]

Then you keep working until you solve he problem with a good solution. Got a better idea, or just complaining about the ideas that have been presented?

[excon]

Then you keep working until you solve he problem with a good solution. Got a better idea, or just complaining about the ideas that have been presented?

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