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View Diary: Tough Choice: If DOJ Prosecutes Wall Street, Banks Could Collapse (196 comments)

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  •  Don't prosecute the banks (5+ / 0-)

    Prosecute the bankers.  Put the top banksters in prison and force a break up of the banks, not destruction of the banks.  We need banks.  But we need honest banks with the freedom to fail.  

    •  This seems to be the most sensical approach... (1+ / 0-)
      Recommended by:
      Bisbonian

      Imagine if they were broken up to the state level or various regions within single states to no more than 25 branches within a state. For example, Citi in Illinois would be allowed to have 25 branches in the city of Chicago. 25 more branches could server the Northern suburbs, 25 for the Western burbs and so on.

      The catch is that each of the branch groups are independent of Citi in NY. They get their own group presidents and other operating officers but they go directly to the Fed for monies, not to Citi. It would probably make sense that they get new names to set them apart.

      If I were in charge, I'd do this to Citi, BoA, JPMorgan/Chase, 5th/3rd, Wells Embargo, etc.

      I would also bring back Glass-Steagall.

      Of course, this is just thinking off the cuff. Take a look how Standard Oil, AT&T, and other massive corps were disassembled.

      Definitely put the banksters in front of a judge. Preferably Jed!

      While not all republicans are bigots, all bigots are republicans.

      by Maximilien Robespierre on Wed Feb 06, 2013 at 07:31:13 PM PST

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      •  Exxon Mobil merger put Standard Oil back together. (1+ / 0-)
        Recommended by:
        cynndara

        Two of its biggest pieces, anyway.

        Mobil used to be called Socony Mobil (Socony = S.O.Co.N.Y. = Standard Oil company of New York).

        Exxon used to be Esso, or "S.O." (Standard Oil) of New Jersey.

        The Dutch kids' chorus Kinderen voor Kinderen wishes all the world's children freedom from hunger, ignorance, and war.

        by lotlizard on Thu Feb 07, 2013 at 03:38:16 AM PST

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