Alan Moore Quotes
I think that the Occupy movement is, in one sense, the public saying that they should be the ones to decide who's too big to fail.
Moore, Alan. Interview by Pádraig Ó Méalóid. Honest Publishing, Dec. 2011.
The representative was opposing currency and monetary reform that would have given Wall Street too much power. His son, the famous aviator, was a Fascist who was a great admirer and supporter of Hitler and Mussolini. The father however was generally liberal as this quotation and {609656} illustrate.
At this time it was 6 years after the Home Financing Crisis and the Meltdown of 2008 and despite tens of thousands of law violations by the bank, the Justice Department was finally finishing their investigations and requiring some penalties. Other negotiations with other banks were in progress, but no bank executives were going to jail for the millions they handled fraudulently, whereas a burglar who stole household goods would do jail time.
The Dodd Frank bill was designed, in the aftermath of the large bank induced meltdown of 2008 and the Great Recession, to regulate the banking industry so that no bank would be “too big to fail”. However, although the bill placed many restrictions on the banks to prevent much of their risky economic behavior, which the banks complained inhibited their growth and profitability. However, the bill did not put any limits on the size of the large banks and their critical proportion of the U. S. Financial System. If a bank was large enough, the government did not dare allow the bank to fail regardless of how profligate the Bank had been with its depositors’ money. So the shareholders made big money from the Bank’s risky behavior if it turned out well, and if not the taxpayers had to bail the banks out, because they were too big to fail without causing much of the rest of the country to also fail. Warren and others wanted a simple solution. Break up the large banks into smaller ones and then if any one of the small units makes poor investments, the bank could fail and other than its shareholders and creditors, the effect would not be so serious that the government could not allow the bank to go into bankruptcy. Mismanaged banks could fail like other mismanaged companies and not take down much or the rest of the country with them. But the banks lobbied to prevent that, and by 2014, 6 years after the taxpayers had to bail out banks that were too big to fail, many of the banks were twice as large as they were when they were already too big to fail.
Alan Moore is an English writer known primarily for his work in comic books including Watchmen, V for Vendetta, The Ballad of Halo Jones, Swamp Thing, Batman: The Killing Joke and From Hell. Regarded by some as the best comics writer in the English language, he is widely recognized among his peers and critics. He has occasionally used such pseudonyms as Curt Vile, Jill de Ray, and Translucia Baboon; also, reprints of some of his work have been credited to The Original Writer when Moore requested that his name be removed.
