Staying with the same topic , specific amendments reducing the risk of "too big to fail" related to the "Safe Banking Act of 2010<http://www.opencongress.org/bill/111-s3241/show>" have been rejected ( some more details below ). A case of "Regulatory Capture<http://en.wikipedia.org/wiki/Regulatory_capture>" to further investigate ? /// A May 7 2010 reaction by TYT Network : *"Too Big To Fail Bank Bill Killed By Bought Politicians" * http://www.youtube.com/watch?v=d8-JXhzXdSU // more on the bill that did not pass : S.3241 - SAFE Banking Act of 2010 http://www.opencongress.org/bill/111-s3241/show *"It was voted on and rejected as an amendment to the Dodd-Frank financial reform bill, 33-61."* // http://www.reuters.com/article/2010/05/07/us-financial-regulation-size-idUST... *(Reuters) - The Senate Thursday rejected a proposal that would split up the six largest banks in an effort to ensure that large financial firms do not threaten the economy if they fail.* The measure, which failed by a vote of 33 to 61, would have placed hard limits on banks' market share of insured deposits and limited the size of their non-deposit liabilities. more details : http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217: https://jischinger.wordpress.com/2010/05/07/senators-who-voted-for-wall-stre... http://www.senate.gov/legislative/LIS/roll_call_lists/vote_menu_111_2.htm ( S.3217 pasted below ) // before the vote : http://www.nytimes.com/2010/04/21/business/21fail.html http://www.nytimes.com/2010/04/22/business/22fail.html http://www.commondreams.org/headline/2010/04/21-7 "The bill would *place a cap on any financial institution*, limiting their total assets to 3% of GDP (that would lower to 2% for banks, as opposed to 3% for non-bank institutions). Currently, *the 6 largest banks have holdings that equal 63% of GDP*. The Safe Banking Act would also impose a 10% cap on any bank holding company’s share of insured deposits. Bank holding companies and “selected nonbank financial institutions” would have a leverage limit of 6%, meaning that they would not be able to lend out more than around sixteen dollars for every dollar of capital in house." /// I also believe it is interesting to notice what has been approved, and what has been rejected ( see below ). It seems to me that one of the results of what has been approved has been an audit of some Federal Reserve Accounts : http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcb... excerpt : "As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," /// http://www.senate.gov/legislative/LIS/roll_call_lists/vote_menu_111_2.htm 00161<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00161> 20-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Motion S.Amdt. 3739 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03739:>Agreed toMotion to Waive All Applicable Budgetary Discipline RE: Dodd Amdt. No. 3739; In the nature of a substitute.00160<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00160> 20-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Cloture Motion S.Amdt. 3739<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03739:>Agreed toUpon Reconsideration Motion to Invoke Cloture on Amdt. No. 3739; In the nature of a substitute.00159<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00159> 19-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3746<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03746:> RejectedWhitehouse Amdt. No. 3746 As Modified Further; To restore to the States the right to protect consumers from usurious lenders.00158<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00158> 19-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Cloture Motion S.Amdt. 3739<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03739:> RejectedMotion to Invoke Cloture On Dodd Amdt. No. 3739; In the nature of a substitute.00157<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00157> 18-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 4072<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP04072:>Agreed toGrassley Amdt. No. 4072; To provide for the independence of Inspectors General of certain designated Federal entities, and for other purposes.00156<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00156> 18-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Motion to Table S.Amdt. 4114<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP04114:>Agreed toMotion to Table Dorgan Amdt. No. 4114; To ban naked credit default swaps and for other purposes.00155<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00155> 18-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 4071<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP04071:>Agreed toCarper Amdt. No. 4071; To address the applicability and preservation of certain State authorities, and for other purposes.00154<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00154> 18-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 4034<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP04034:> RejectedCorker Amdt. No. 4034; To address the applicability of certain State authorities with respect to national banks, and for other purposes.00153<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00153> 18-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 4051<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP04051:> RejectedGregg Amdt. No. 4051 As Modified; To prohibit taxpayer bailouts of fiscally irresponsible State and local governments.00152<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00152> 17-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3986<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03986:>Agreed toCornyn Amdt. No. 3986; To protect United States taxpayers from paying for the bailouts of foreign governments.00151<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00151> 17-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Motion S.Amdt. 4020 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP04020:> RejectedMotion to Waive All Applicable Budgetary Discipline RE: Crapo Amdt. No. 4020; To limit further bailouts of Fannie Mae and Freddie Mac, to enhance the regulation and oversight of such enterprises, and for other purposes.00150<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00150> 13-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3987<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03987:> RejectedThune Amdt. No. 3987; To provide for increased Congressional oversight through a sunset of the authority created under title X related to the creation of the Bureau of Consumer Financial Protection.00149<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00149> 13-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3989<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03989:>Agreed toDurbin Amdt. No. 3989 as Modified; To ensure that the fees that small businesses and other entities are charged for accepting debit cards are reasonable and proportional to the costs incurred, and to limit payment card networks from imposing anti-competitive restrictions on small businesses and other entities that accept payment cards.00148<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00148> 13-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3832<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03832:> RejectedSessions Amdt. No. 3832; To provide an orderly and transparent bankruptcy process for non-bank financial institutions and prohibit bailout authority.00147<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00147> 13-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3774<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03774:>Agreed toLeMieux Amdt. No. 3774 as Modified; To remove statutory references to credit rating agencies.00146<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00146> 13-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3991<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03991:>Agreed toFranken Amdt. No. 3991; To instruct the Securities and Exchange Commission to establish a self-regulatory organization to assign credit rating agencies to provide initial credit ratings.00145<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00145> 12-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3943<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03943:>Agreed toReed Amdt. No. 3943; To establish a specific consumer protection liaison for service members and their families, and for other purposes.00144<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00144> 12-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3816<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03816:> RejectedChambliss Amdt. No. 3816; To implement regulatory oversight of the swap markets, to improve regulator's access to information about all swaps, to encourage clearing while preventing concentration of inadequately hedged risks in central clearinghouses and ensuring that corporate end users can continue to hedge their unique business risks, and to improve market transparency.00143<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00143> 12-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3759<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03759:>Agreed toHutchison Amdt. No. 3759 as Modified; To maintain the role of the Board of Governors as the supervisor of holding companies and State member banks. 00142<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00142> 12-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3955<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03955:> RejectedCorker Amdt. No. 3955; To provide for a study of the asset-backed securitization process and for residential mortgage underwriting standards. 00141<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00141> 12-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3962<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03962:>Agreed toMerkley Amdt. No. 3962; To prohibit certain payments to loan originators and to require verification by lenders of the ability of consumers to repay loans.00140<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00140> 11-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3839<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03839:> RejectedMcCain Amdt. No. 3839; To provide for enhanced regulation of, and to establish a term certain for the conservatorships of Fannie Mae and Freddie Mac, to provide conditions for continued operation of such enterprises, to provide for the wind down of such operations and the dissolution of such enterprises, and to address budgetary treatment of such enterprises.00139<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00139> 11-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3938<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03938:>Agreed toDodd Amdt. No. 3938; To require the Secretary of the Treasury to conduct a study on ending the conservatorship of Fannie Mae and Freddie Mac, and reforming the housing finance system.00138<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00138> 11-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3760<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03760:> RejectedVitter Amdt. No. 3760; To address availability of information concerning the meetings of the Federal Open Market Committee, and for other purposes.00137<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00137> 11-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3738<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03738:>Agreed toSanders Amdt. No. 3738 as Modified; To require the non-partisan Government Accountability Office to conduct an independent audit of the Board of Governors of the Federal Reserve System that does not interfere with monetary policy, to let the American people know the names of the recipients of over $2,000,000,000,000 in taxpayer assistance from the Federal Reserve System, and for other purposes.00136<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00136> 06-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3733<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03733:> RejectedBrown (OH) Amdt. No. 3733; To impose leverage and liability limits on bank holding companies and financial companies.00135<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00135> 06-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3898<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03898:> RejectedEnsign Amdt. No. 3898; To amend the definition of the term "financial company" for purposes of limits on nondesposit liabilities.00134<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00134> 06-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the MotionAgreed toMotion to Instruct the Sgt. At Arms; An original bill to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes. 00133<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00133> 06-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3826<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03826:> RejectedShelby Amdt. No. 3826; To establish a Division of Consumer Financial Protection within the Federal Deposit Insurance Corporation, and for other purposes.00132<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00132> 06-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3749<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03749:>Agreed toTester Amdt. No. 3749; To require the Corporation to amend the definition of the term "assessment base".00131<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00131> 05-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3827<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03827:>Agreed toShelby-Dodd Amdt. No. 3827; To improve the bill.00130<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00130> 05-MayS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Amendment S.Amdt. 3737<http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SP03737:>Agreed toBoxer Amdt. No. 3737; To prohibit taxpayers from ever having to bail out the financial sector.00129<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00129> 05-MayPN1246On the NominationConfirmedConfirmation Nancy D. Freudenthal, of Wyoming, to be U.S. District Judge00128<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00128> 05-MayPN1341On the NominationConfirmedConfirmation Gloria M. Navarro, of Nevada, to be U.S. District Judge00127<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00127> 28-AprS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On Cloture on the Motion to ProceedRejectedSecond Motion to Invoke Cloture on the Motion to Proceed to Consider S. 3217; An original bill to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes.00126<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00126> 27-AprS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On Cloture on the Motion to ProceedRejectedUpon Reconsideration Motion to Invoke Cloture on the Motion to Proceed to S. 3217; An original bill to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes. 00125<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00125> 26-AprS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the MotionAgreed toMotion to Instruct the Sergeant at Arms; An original bill to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes. 00124<http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00124> 26-AprS. 3217 <http://thomas.loc.gov/cgi-bin/bdquery/z?d111:SN03217:>On the Cloture MotionRejectedMotion to Invoke Cloture on the Motion to Proceed to Consider S. 3217; An original bill to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes. Forwarded conversation Subject: Matt Tiabbi : "If it is too big to fail, it is too big to exist" ------------------------ From: *Dante-Gabryell Monson* <[email protected]> Date: Tue, Oct 25, 2011 at 8:21 PM To: p2p-foundation <[email protected]>, [email protected] Matt Tiabbi ( excerpts from video - cnn interview ) : Break up the banks - No More Too Big to Fail Companies - If it is too big to fail, it is too big to exist. - Tax Payers should not be on the hook. http://4closurefraud.org/2011/10/25/matt-tiabbi-owss-beef-wall-street-isnt-w... or http://yourmoney.blogs.cnn.com/2011/10/22/occupy-wall-st-about-class-warfare... ---------- From: *Dante-Gabryell Monson* <[email protected]> Date: Tue, Oct 25, 2011 at 8:35 PM To: p2p-foundation <[email protected]>, [email protected] and a continuation on the CNN interview... http://www.rollingstone.com/politics/blogs/taibblog/owss-beef-wall-street-is... Matt Tiabbi, excerpts : "...we hate the rich? Come on. Success is the national religion, and almost everyone is a believer. Americans *love *winners. But that's just the problem. These guys on Wall Street are not winning – they're cheating. And as much as we love the self-made success story, we hate the cheater that much more." "This isn't disappointment at having lost. It's anger because those other guys didn't really win, and people now want the score overturned. All weekend I was thinking about this “jealousy” question, and I just kept coming back to all the different ways the game is rigged. People aren't jealous and they don’t want privileges. They just want a level playing field, and they want Wall Street to give up its cheat codes, ..." continued on http://www.rollingstone.com/politics/blogs/taibblog/owss-beef-wall-street-is... ---------- From: *Natalie * Date: Wed, Oct 26, 2011 at 2:15 AM To: [email protected], P2P Foundation mailing list < [email protected]> Cheers & Kudos to Matt for all he’s done to make this understandable for many Americans. ------------------------------ _______________________________________________ P2P Foundation - Mailing list http://www.p2pfoundation.net https://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation