Meet the Banking Cartel That is Planting the Seeds for the Next Banking Panic and Bailout

September 22, 2023

by Pam Martens and Russ Martens Wall Street on Parade

On July 27, the Federal Reserve, FDIC and Office of the Comptroller of the Currency released a proposal to require higher capital levels at banks with $100 billion or more in assets – those that demonstrated quite clearly this past spring that they could spread systemic contagion throughout the U.S. banking system. Community banks will not be impacted at all by the new proposals according to the regulators.

The three federal bank regulators provided a very generous public comment period of 120 days on the proposal. (Submit your own comment here.) The large banks had to only begin transitioning to the new rules on July 1, 2025, with full compliance not due for an absurd five years – on July 1, 2028.

On September 12, the banking cartel made their anger known in a 7-page letter that assaulted the proposal from every conceivable angle and demanded that the three federal agencies turn over all “evidence and analyses the agencies relied on” in making the proposal.