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Senate OKs Amendment That Would End 'Too Big to Fail'
If this passes, and surely it will, it is going to be quite interesting to see what happens should we dip into another recession or find out that this recession is not ending but instead about to get worse... and we have another round of "giant" banks needing rescuing.
I think I read somewhere that the top three banks in the US have assets equaling like 25% of our entire GDP, that is just insane. Yet because they are so focused on earning zillions, they made such risky bets, that they needed help to avoid collapse. Will they change their tune now if this bill passes? Will they pile up cash somewhere, or raise consumer 'fees' to cover some sort of internal insurance plan? One thing is certain, they certainly have no plans to make less money!
Ugh, my 1TB external USB Seagate drive is dying. I've ordered a 1.5TB Samsung eSATA external drive as a replacement, will be here in a few days. My only hope is the first drive lasts long enough for me to pull the 1TB of movies off of it and transfer to the new drive... I will cry like a little girl if I lose those movies...
Thank you for the chuckle Mike! Hehe!
