{"bills":[{"photos":{"featured":"https://assets.countable.us/bill/photo/s3542-115/featured_a-bill-to-break-up-large-financial-entities-1540834039.jpg","featured_large":"https://assets.countable.us/bill/photo/s3542-115/featured_large_a-bill-to-break-up-large-financial-entities-1540834039.jpg","shareable":"https://n.countable.us/share-images/bills/s3542-115.png"},"introduced_on":"2018-10-03","title_override":"Should “Too Big to Fail” Banks Be Broken Up?","summary_override":"

This bill would create a list of entities deemed “Too Big To Fail” — including U.S. bank holding companies that have been identified as systemically important banks by the Financial Stability Board. The list would be compiled by the Financial Stability Oversight Council and sent to the Dept. of the Treasury. The Secretary of the Treasury would then break up those entities so their failure could no longer have a catastrophic effect on the U.S. or global economy without a taxpayer bailout after submitting the list to Congress and the president.

Any entity on the list would not be able to use or access credit advances from the Federal Reserve, the Federal Reserve’s discount window, or any program or facility made available by the Fed. This includes asset purchases, temporary or bridge loans, government investments in debt or equity, and \"capital injections\" (i.e. bailouts) from any federal institution.

Insured financial institutions and the entities that own them would be prohibited from using insured deposits to fund:

Activities related to hedging that are not directly related to commercial banking activities at the insured bank;
Any use of derivatives for speculative purposes;
Activities related to the dealing of derivatives;
Any other form of speculative activity specified by regulators.

The above limitations also apply to entities on the list in order to prevent insured deposits from being put at risk, or creates a risk of loss to the Federal Deposit Insurance Corporation’s (FDIC) Deposit Insurance Fund.

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Like George W did with habeas corpus ","argument_against":null,"show_argument_for":true,"show_argument_against":false,"upvote_count":0,"upvotes_for_count":0,"upvotes_against_count":null,"has_upvoted":false,"endorsement_count":0,"links":{"self":"https://www.countable.us/positions/e1555aa8-dc27-4092-b742-a8b8d9d92e75"},"body":"Yes, YES YES‼️ Big banks and big investment firms caused our 2008 crash....please BREAK THE BANKS UP before they help the elite to take more of our rights away. Like George W did with habeas corpus ","stance":"yea","created_at":"2018-10-31T02:56:44.659Z","shareable_image_url":"https://n.countable.us/share-images/positions/e1555aa8-dc27-4092-b742-a8b8d9d92e75.png","note_color":null,"note_text":null,"bill_id":"s3542-115","user_id":"w9D6Y3RZ","endorser_ids":[]}}

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Should “Too Big to Fail” Banks Be Broken Up?