Hmm real bank breakup coming? Internationally?

[TxRider]

I caught this little ditty over on the BBC... This could get interesting.



"UPDATE: 18:09

George Osborne, the shadow chancellor, has just told me that Obama's plan to break up the banks is consistent with the views he expressed in his recent bank reform paper.

His condition for implementing such a radical plan was that it needed international agreement.

Well, he has got that now. So he has told me - explicitly - that a Tory government would impose an identical dismantling of British banks to those suggested by President Obama.

Which will generate profound fear in the boardrooms of Royal Bank of Scotland and - more especially - Barclays."

http://www.bbc.co.uk/blogs/thereporters/robertpeston/2010/01/obama_to_break_up_banks.html

[villager]

1. I wonder if "a very British coup" is coming...

Global capital doesn't like being fucked with.

[Hannah Bell]

22. if it happens, imo, it will be more like the "breakup" of standard oil - which

actually left its owners richer than ever.

[belpejic]

2. Concerted international action is needed

Especially in the EU. Otherwise banks will just move their headquarters. This is one reason of many why it pays to not be an international pariah, as we were becoming under Bush.

[Goldstein1984]

3. I'm counting on a very global working class coup

I don't know why, but this situation reminds me of this quote:

"Americans can always be counted on to do the right thing...after they have exhausted all other possibilities." -- Winston Churchill

[TxRider]

4. Gotta love Churchill, so many good quotes.. But

If the U.K. and U.S. are going to break up the mega banks this is going to be a titanic struggle.

And with the new SCOTUS ruling it had certainly better happen quickly and surely, and well before November.

[Goldstein1984]

6. "...the new SCOTUS ruling ..."

If this doesn't agitate people enough to make demands for change, then we are a nation of sheople.

[TxRider]

14. What I meant was...

Now that the SCOTUS has made this ruling, the mega banks can fight back on the airwaves with impunity and billions in funding.

They may go down swinging, and the SCOTUS just handed them an open door to fight regulation buying public opinion.

[Goldstein1984]

15. I got that. It's the most likely course of history.

But I'm hoping the SCOTUS ruling is the proverbial straw for enough people.

[dgibby]

5. Hmmm......

World Bank and IMF want to forgive all Haiti's debt.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x7534135

Looks like something's definitely happening on the international banking scene, doesn't it?

[nadinbrzezinski]

9. The plates are shifting, sorry for that allegory, after the disaster

but that is the only way to explain it.

[TxRider]

10. Now that I think of it, this makes perfect sense in that it started the crisis.

The U.S. banks largely got their deregulation, and lack of new regulation by pointing to London and the lack of regulation there.

U.S. financial sector was losing out to London due to lax regulations there and used that to push deregulation here and stall new regulation. Icelend, Ireland and others followed suit.

I can see the bankers foaming about it to Obama when he was talking regulations, so if Obama went to the U.K. and negotiated regulation agreements between the U.K. and the U.S. then he's playing a great chess game there.

And pulling this out of the bag just after Brown was elected, especially if he follows through quickly with big reform, is just the thing to keep the independent voters happy.

[Odin2005]

7. Good! Break up the banks!

[nadinbrzezinski]

8. Ok folks start putting the puzzle together

US banks to be re-regulated and broken up.

British banks to be re-regulated and broken up

IMF and WB are about to forgive Haitian debt... and calling for a Marshall Plan.

We are right now living in interesting times. I suspect the Chicago Boys are having a few sleepless nights.

[a la izquierda]

12. The Chicago Boys should all drop dead...

sorry, but they have positively ruined Latin America.

[nadinbrzezinski]

13. It starts with sleepless nights

[TxRider]

16. Going to be another interesting year for sure

[anonymous171]

20. I think the political elites are getting fed up with the bankers

[TxRider]

21. One can only hope

[nadinbrzezinski]

23. Or the elites realize folks all over

are plain out pissed off. So do what needs to be done before the torches and pitchforks come out

[HeresyLives]

11. Globalisation.

The G20 has been working on this since the crisis first hit.

[Better Today]

17. Sweet, I hope this is finally something for real for all populations

being screwed by bankers, and markets.

[anonymous171]

18. I want an international revolt against the bankers!

We need to get rid of them Knights Templar-style.

[TxRider]

19. Nahh we some of them alive

We need banks and bankers

But banks big enough to take down a nation if they fail are way past the point of monopoly and being subject to anti trust break ups.

And they need to be watched like hawks.