Some talking head financial "expert" is now going around saying that this is because there still are too many regulations on the banking industry. Do clowns like him really think everyone is stupid? Glass-Steagall was put in place due to the banks causing the crash in 1929. It gets repealed and what happens? The banks once AGAIN do the same things and cause the crash in 2008. And this nobhead wants to give the already irresponsible banking industry even more freedom? It would be like giving a bunch of alcoholics the keys to a liquor store.

What is even worse this time is that the banks have stuck their casino funds into consumer accounts with the sole intent of collecting the FDIC insurance when their gambling losses resulted in insolvency.

Major banks say they are ready to go under

The US Federal Deposit Insurance and Federal Reserve released public summaries of plans for quick liquidation of nine of the world’s largest banks in the case of an emergency, without government bailouts.

*Complex financial firms with more than $250 billion in nonbank assets including J.P. Morgan Chase, Bank of America, Citigroup Inc., Goldman Sachs Group Inc., Morgan Stanley, Barclays PLC, Deutsche Bank, Credit Suisse and UBS were the first to prepare the worst case scenarios by July 1. In total, about 125 banks are expected to submit plans to the regulators by the end of 2013.