05-03-2010, 06:17 PM
What I see are alot of amendments to already exsisting banking acts and additions of clauses to exsisting amendments. A person would have to read the entire banking acts that this safe banking act covers to know exactly what it does. It seems this act seeks to correct exsisting loopholes while severly limiting maximum size and seeks to break the banking monopoly up. If it is passed I believe it will. There are still problems but it is for sure a darn good start.
The only thing I see that I don't like is the federal reserve's mention as I am not really sure what power it is being granted if any.
The federal reserve is the single largest problem world wide in my honest opinion along with the bank of England which this act has no rule over untill it tries to operate inside the borders of the U.S.A.
The only thing I see that I don't like is the federal reserve's mention as I am not really sure what power it is being granted if any.
The federal reserve is the single largest problem world wide in my honest opinion along with the bank of England which this act has no rule over untill it tries to operate inside the borders of the U.S.A.