Schiff: Banks Are Just A Few Rate Hikes From Insolvency. Sen. Elizabeth Warren: Financial Reforms Are Insufficient To Protect Taxpayers From Potential Risks Posed By Large banks. Bernanke: I AgreeToo Big To Fail Was A Major Source of The Crisis

InvestmentWatch

Great clip. Schiff battles CNBC bank bailout drones.

‘The banks are in the worst shape they’ve ever been. They are a just a few interest rate hikes from insolvency.’

Losses to depositors due to money printing to bailout and due to inflation would be far greater than what the Cyprus depositors might be losing due to the tax.

Banks are reckless, depositors don’s care. Schiff says system will implode.

http://www.blacklistednews.com/SCHIFF:_’Banks_Are_Just_A_Few_Rate_Hikes_From_Insolvency’/24815/0/38/38/Y/M.html

Schiff – Cypriots Are Getting a Better Deal than Americans

http://www.youtube.com/watch?v=7GYYzL7xn1c&feature=em-uploademail

Sen. Elizabeth Warren, D-Mass., questions Federal Reserve Board Chairman Ben Bernanke during a Senate hearing last month. Senators from both ends of the political spectrum argue that financial reforms are insufficient to protect taxpayers from potential risks posed by large banks.

Vitter has teamed up with Sen. Sherrod Brown of Ohio, a liberal Democrat, to create a bill that would require the six biggest banks to have even more capital to cushion potential losses. The bill would also limit the big banks’ access to the federal safety net — FDIC insurance and cheap loans from the Fed.

Brown is also pushing a bill that would curb the size of the megabanks by limiting how much they could borrow.

“They really are too big to manage,” Brown says. “The people running these banks don’t understand the complexity, in many cases, of some of the derivatives with which they’re involved. And that says to me that it’s not just too big to fail, it’s too big to manage.”