... Too Big to Exist*.
There's a simple solution to the "too-big-to-fail" problem: Break up those huge financial institutions.
Now is the time to act, when the failing financial corporations should be dissected into parts that support main street, and the speculative parts should be allowed to fail.
START, by Signing the petition to Congress:
http://www.democrats.com/break-up-the-banks
Then, take to the streets:
On Saturday April 11, A New Way Forward will lead protests all across the country to demand these changes. Find one near you:
http://www.anewwayforward.org/rally-list.php
And if you're in New York City on Friday April 3, join the National March on Wall Street:
http://www.bailoutpeople.org/april3-4.shtml
* If an entity needs to be too big to fail, then it should be tightly chartered and regulated like a utility.
3 comments:
My wife and I were watching TV when a talking head was breathlessly talking about how it was impossible to let them fail; they were too big.
My wife looked at me with a wry smile. Remember AT&T?
This makes the breakup of AT&T look miniscule! Obama is much more Pro big business than he lets on. A breakup will never happen in a million years!
I was going to bring up the break-up of Ma Bell.
I think part of the picture is more enforcement of antitrust laws and legislation to close loopholes corporate lawyers have put in them.
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