"After these global Bail-outs the preamble to the resultant 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, claimed: “…to protect the American taxpayer by ending bailouts.” The financial law firm Davis Polk estimates the final length of the Dodd-Frank model, the single longest bill ever passed by the US government, is over 30,000 pages. Before the bill’s passage, the six largest banks in the US spent $29.4 million lobbying Congress and flooded Capitol Hill with about 3,000 lobbyists for the bank’s protections, not yours.
Meanwhile, the US taxpayer watched as pension funds went bust, bankrupt businesses rid themselves of long-term retirement obligations and their family’s financial futures were cast aside from any concern.
Under Dodd-Frank, the US Federal Deposit Insurance Corporation (FDIC) was given new powers and methods to “guarantee” depositors’ savings.” Under the direction of TARP, such powers were also included in Britain’s 2012 Prudent Regulation Authority (PRA) reform bill. Both agencies did put a stop to Bail-outs. However, they did so by miraculously morphing Bail-outs into something new called, “Bail-ins.” Worse, in redefining bank deposits, suddenly payback for pending bank failures shifted to the unsuspecting bank depositor."
PS. Re: bank deposits redefined.
"After these global Bail-outs the preamble to the resultant 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, claimed: “…to protect the American taxpayer by ending bailouts.” The financial law firm Davis Polk estimates the final length of the Dodd-Frank model, the single longest bill ever passed by the US government, is over 30,000 pages. Before the bill’s passage, the six largest banks in the US spent $29.4 million lobbying Congress and flooded Capitol Hill with about 3,000 lobbyists for the bank’s protections, not yours.
Meanwhile, the US taxpayer watched as pension funds went bust, bankrupt businesses rid themselves of long-term retirement obligations and their family’s financial futures were cast aside from any concern.
Under Dodd-Frank, the US Federal Deposit Insurance Corporation (FDIC) was given new powers and methods to “guarantee” depositors’ savings.” Under the direction of TARP, such powers were also included in Britain’s 2012 Prudent Regulation Authority (PRA) reform bill. Both agencies did put a stop to Bail-outs. However, they did so by miraculously morphing Bail-outs into something new called, “Bail-ins.” Worse, in redefining bank deposits, suddenly payback for pending bank failures shifted to the unsuspecting bank depositor."
https://southfront.org/when-your-bank-fails-dont-walkrun/