Want to Save Our Economy from Almighty Greed?

[no_hypocrisy]

2. Too big to fail. Here's an idea: Let's give a handful of firms on Wall Street so much economic power that if they ever fail, the entire economy will collapse with them. Sound good? Of course not. But sadly, that's what Wall Street looks like today, and the problem has actually gotten worse since the financial crisis began because troubled firms have been eaten up in a flurry of mergers with stronger behemoths to stave off catastrophe.

The solution? Break up the banks to a size where failure does not destroy the economy, and ban banks from participating in the capital markets casino. Similarly, companies that engage in speculative, risky securities trading would be banned from doing the boring, economically essential banking activities such as accepting deposits and making loans.

With the two types of banking separated, we have a useful banking sector to support the economy even if the Wild West finance hits the skids.



http://www.alternet.org/politics/143737/want_to_save_our_economy_fro
m_almighty_greed_here%27s_10_targets_that_stand_in_the_way?page=1

[AtheistCrusader]

1. England is already on this. Breaking up the non-performers.

Pretty darn good idea.