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Thom's blog
Can you say oligopoly in the USA?
Financial consumers are screwed. Can you say oligopoly in the USA? Based on a study released by the White House yesterday – the four biggest banks in America could grow even bigger under the financial reform law passed last year. The law put a cap on the growth of financial institutions to prevent them from posing a systemic risk to the entire financial system – like what happened a few years ago. However that cap is calculated using a skewed formula that allows even the biggest banks in America to continue to grow into “too big to fail” monsters. Bank of America, JP Morgan, Citigroup, and Wells Fargo all have plenty of room under the cap and can add another trillion dollars to their balance sheets by taking over and merging with other banks. To put it into perspective just how big these banks are – they collectively hold nearly $8 trillion in assets - about half of the entire banking system – and originate 3 out of every 5 home mortgages. Less than a decade ago – 15 banks made up half of the financial industry – today that’s 4. And sadly – there’s nothing in the law to prevent these massive banks from growing larger. Looks like the banks won after all…again.
-Thom
(Is America an oligarchy? Tell us here.) |
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Tonight on The Big Picture on RT TV at 9pm and 11pm... (check your local listings for stations or stream at RT, and catch past shows on Youtube)
Need to Know: health care vote today.
Screwed: "Regulators back tough rules on bank trade".
What you need to know about stochastic terrorism With Dr. Ben Sheppard, Fellow at the Potomac Institute for Policy Studies and a Senior Associate at the Institute for Alternative Futures; author of "The psychology of strategic terrorism: public and government responses to attack"
The Best of the Rest of the News...
Why aren't we prosecuting Bush officials? With J. Gerald Hebert, former acting Justice Department chief.
Privatize the TSA?! With Dr. Yaron Brook, President & Executive Director-Ayn Rand Institute.
Green report: Bee Bonanza: From Hive Politics To Beekeeping With Thomas Seeley, Biologist-Cornell University.
Crazy Alert: Police escort.
The Good, The Bad, The Ugly
Daily Take: China - need industrial policy in the U.S. before it's too late
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Read Thom's Book for Free!
Now you can read all of Thom Hartmann's " Rebooting the American Dream: 11 Ways to Rebuild Our Country" for free online. Truthout is publishing weekly installments over 12 weeks. Read Chapter Ten: Wal-Mart Is Not a Person today. |
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The Daily Stack 
Quote: "There is not a truth existing which I fear or would wish unknown to the whole world. -- Thomas Jefferson.
Hour One: Is the healthcare debate hurting Republicans? Has China won? What about the Banksters?
Hour Two: "365 Ways to Drive a Liberal Crazy" Thom challenges James Delingpole, Self described "Libertarian conservative" British author/columnist who's work appears in The Times, The Daily Telegraph, and The Spectator...latest book is "365 Ways to Drive a Liberal Crazy".
Article: " The Federalist No. 10: The Utility of the Union as a Safeguard Against Domestic Faction and Insurrection (continued)" by James Madison, November 22, 1787.
Hour Three: What you need to know about "stochastic terrorism" With Dr. Ben Sheppard, Fellow at the Potomac Institute for Policy Studies and a Senior Associate at the Institute for Alternative Futures; author of "The psychology of strategic terrorism: public and government responses to attack"
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Coming up Thursday on The Thom Hartmann Program
Hour Three: did you know honeybees share our inherent desire for democracy?Thom will talk to Dr. Thomas Seeley, Professor and Chairman in the Department of Neurobiology and Behavior at Cornell University, about his brilliant new book "Honeybee Democracy".
And, the best of the rest of the news and your calls right here on...
The Thom Hartmann Program... your media support group for we the people.
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Thom's Poll
Ron Paul says, GOP ‘Could Be’ Hypocrites for using Gov Health Care for themselves & repealing it for the public" Right or Wrong?
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Watch & Listen to Thom
Lee Fang on Giffords shooting and SarahPAC
Why is the right more inclined to violence than the left?
John Velleco
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 Would you like to help give a child with a very troubled background this feeling of peace? Thom and Louise Hartmann founded the New England Salem Children's Village (NESCV) in New Hampshire in 1979. With states delaying payment for the children they entrust to the village, they need help with cash flow. Can you help? |
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Show Info
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