Too Big to Fail = Too Big to Exist

Watch the Video, Then Sign the Petition to Break Up Bank of America

 


Petition to Financial Regulators:

We, the undersigned, call on the Board of Governors of the Federal Reserve System and the Financial Stability Oversight Council to break up Bank of America. Under section 121 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, you have the authority to break up “too big to fail” banks into smaller, simpler and safer institutions.

If Bank of America in its current form were to fail, it would devastate the U.S. economy. You must act preemptively to make sure that never happens. We cannot wait and find out whether another financial crisis strikes. If that happens, it will be too late to act.

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Why We Must Act

In its current form, Bank of America poses a grave threat to our economy. It is massive, complex and unstable — too big to manage and too big to regulate. Its assets are equal to roughly one-seventh of the U.S. gross domestic product. If Bank of America goes down, a sizable chunk of our economy will go down with it.

Federal financial regulators have the authority to break up dangerous “too big to fail” banks into smaller, simpler and safer institutions — institutions that won’t tank our economy if they go bust. More than $1 trillion in federal assistance has already gone toward propping up this sprawling behemoth.

It’s time to stop propping up and start breaking up.

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1-25 of 32175 signatures
Number Date Name Add a Comment
32175 Sat May 19 05:42:42 EDT 2012 dennis johnston
32174 Fri May 18 18:52:02 EDT 2012 JOAN BARTULOVICH
32173 Fri May 18 12:21:13 EDT 2012 Chris Campbell
32172 Fri May 18 01:05:48 EDT 2012 david cole
32171 Thu May 17 16:37:15 EDT 2012 Anonymous If Bank of Am. failed it would affect the world economy as what happened in 2008. Those running big coops make so much money they forget about the middle and lower class that put them there.
32170 Thu May 17 14:58:23 EDT 2012 Marian Now Jp Morgan too! When will you bring back Glass Steagall? Put the banking system back on the right track!
32169 Thu May 17 10:49:49 EDT 2012 Anonymous
32168 Wed May 16 12:58:45 EDT 2012 Neil MacLeod Must Watch! (12 yr old - 'on Banksters') http://www.youtube.com/watch?v=JHQOX8EVNmE&list=UU3ZHy0zFa32UhVGXzSPaluA&index=1&feature=plcp
32167 Wed May 16 12:12:58 EDT 2012 Paul Haider Skank of America continues to suck ass!
32166 Wed May 16 01:23:37 EDT 2012 Anonymous
32165 Wed May 16 01:21:22 EDT 2012 Anonymous
32164 Wed May 16 01:19:35 EDT 2012 Guingambo Gongoli
32163 Wed May 16 01:18:27 EDT 2012 Anonymous
32162 Tue May 15 23:16:26 EDT 2012 Valerie Ellis
32161 Tue May 15 20:49:59 EDT 2012 dinmani savla banks are supposed to invest customers' hard earned savings in a safe environment and reward customers with interst income. Instead these big banks have become the gamblers who misappropriately invest More....
32160 Tue May 15 13:50:57 EDT 2012 Charles Whitcomb This is so urgent. GM/GMAC/ALLY is about to file Bankruptcy. Capitol1 Has their credit card Business now, and soon the Bankruptcy will wipe out the debts GMAC owes to others while taking on the money people More....
32159 Tue May 15 10:21:09 EDT 2012 allison fisher
32158 Tue May 15 09:26:15 EDT 2012 Alan Haggard
32157 Tue May 15 06:53:35 EDT 2012 Susan C Pilling Thank you for respecting e-mail submissions with equal validity to phone and postal comments.
32156 Mon May 14 23:41:12 EDT 2012 Joanne Hastings
32155 Mon May 14 20:47:09 EDT 2012 Maneesh Pangasa Yes we must end too big to fail by breaking up the big banks. Too big to fail is too big to exist. The Wall Street banks are playing a cynical game heads we win tails you the consumer and the taxpayer More....
32154 Mon May 14 15:06:49 EDT 2012 Catherine Hart
32153 Mon May 14 14:13:12 EDT 2012 Jeremiah Millikan "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the More....
32152 Mon May 14 13:35:31 EDT 2012 Charlotte Stubbs When the last collapse happened we were promised that it would NEVER happen again. Yet nothing has been done to make these institutions smaller, rather you've allowed them to get bigger. You removed the More....
32151 Mon May 14 12:12:29 EDT 2012 Egan Green What possible incentive is there to keep them in business. They provide NO benefit to society.
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