"Breaking up the Banks" becoming Mainstream?

A member of the Federal Reserve Bank, Richard Fisher, has said

A truly effective restructuring of our regulatory regime will have to neutralize what I consider to be the greatest threat to our financial system's stability -- the so-called too-big-to-fail [banks].

So, if anyone ever poo poos the intent to "break up the banks," inform them that a president of the Dallas, Texas Federal Reserve proposes doing just that. Referring to a more desirable international agreement to limit bank size, Fisher goes as far as to say

If we have to do this unilaterally, we should.

For Your Convenience:

• Contact the Broadcast Media
• Contact the US Senate
• Contact the House of Representatives

Sources:

Jim Hightower, Progressive Populist, May 1, 2010.

Too Big to Fail....

... 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.