Guardians of Prosperity

Guardians of Prosperity

Why America Needs Big Banks

Book - 2013
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"Since the financial crisis, amid outrage at the likes of Citigroup and JPMorganChase and Washington's rejiggering of the financial system, the banking industry has had one major defender: Richard X. Bove. Now he explains why big banks are the nation's lifeline to success, and why financial disaster will ensue if we make it impossible for them to fill their role in the economy. Bove argues that big banks are necessary to ensure America's position in global finance; to assist corporations in achieving their goals against foreign competition; and, most importantly, to defend the average household's access to financial services. Limiting the major banks, he shows, is an attack on our future growth. Bove offers ways to improve the economy's stability, including allowing some banks to be "too big to fail" and lessening the demand on liquidity so they won't need to sell existing loans. His main argument, that we need to stop fighting our greatest guardians of prosperity, is sure to be controversial"--Provided by publisher.
Publisher: New York, New York : Portfolio/Penguin, [2013]
ISBN: 9781591845782
Characteristics: viii, 280 pages : illustrations ; 24 cm


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Mar 30, 2014

I admit I've never heard of this Bove character, but I tend to read the best, not the most submediocre as this fellow. The description - - and book - - says: (in quotes) . . . . to assist corporations in achieving their goals against foreign competition . . . .(end quote). Actually, the banks, which have concentrated ownership of the corporations, dating back to 1914 (read the FDR-initiated TNEC report, and look up the subsequent lawsuit from it, United States v. Morgan et al.), which has only gotten considerably worse, and more international or global in scope. What this author doesn't say or is too ignorant to comprehend: the banksters have full rigged the retail stock market through internalization process, with the internalizers the top banks and their hedge funds, while their dark pools rig the private market, also major drug money laundering has been their mainstay - - HSBC just paid a measily fine for doing about $5 trillion worth of business for two SA cartels over the past 10 years; the rigged LIBOR rates, the rigged interst rate credit derivatives market, the rigged forex, the rigged precious metals market, the various rigged commodities markets, and the exemption - - of which there are too many - - in the Dodd-Frank Act allowing for BOLI, or Bank Owned Life Insurance, so the banksters make big bucks on all those "suicided" and murdered banks recently - - especially at JPMorgan Chase! [Never forget the Trinity of Evil, and do try to learn who owns them: JP Morgan Chase, Goldman Sachs and Morgan Stanley.]


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