There is ABSOLUTELY NO JUSTIFICATION for these behemoth financials.

Without a doubt they constitute FAR MORE RISK than benefit to the US economy.

I’ll go further. They’d represent FAR MORE VALUE to shareholders if busted up. The only ones winning today are the overpaid senior management. Even their CEOs can’t quantify justification for their continued existence. Years ago even trade mags confirmed there just weren’t economies of scale. Consolidation was purely ego trips for CEOs.

Immediately revoke MS and GS commercial banking charters. REinstall Glass Steagall and force these financials to choose either commercial banking or investment banking - no grandfathering.

The top 5 financials control 40% of US deposits. That is FAR TOO GREAT a concentration, FAR TOO GREAT a risk.

What is MOST INTERESTING is the source of income for these financial behemoths - TRADING. When our economy desperately needs LENDING they are out TRADING - which does NOTHING beneficial for the US economy. And our government is ENABLING THIS!!

I interpret these artificially low rates as a means for these financial behemoths to recapitalize at America’s expense. God knows BO, etc are having little success getting these guys to lend more.

WE CANNOT TOLERATE SUCH A CONCENTRATION OF ECONOMIC POWER!! IF WE DON’T CLAMP DOWN KNOW, THEY’LL ONLY GET MORE INFLUENTIAL, MORE POWERFUL, MORE LIKELY TO OVERPLAY THEIR HAND AND TAKE US ALL DOWN!!!

- Gorm

Related Posts:

• Bottom line, Top bank CEOs are NOT innocent.
• Paul Volcker: You should have been nominated Treasury Secretary.
• £850 Billion Investment For £30 Billion Loss
• Clearly bigger is not always better.
• Even the rich (some) will get hammered. Look at those that were invested with Madoff.

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