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

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  •  More 'too big to fail?' It's time to cut these (1+ / 0-)
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    Ray Pensador

    banks and mutual funds and hedge funds into much smaller organizations.  Any bank holding more than $10 billion in assets must be divided into two.  Hedge fund positions all need far more transparency all the way up to the cross-pollinating, interbreeding board members shared with banks, corporations and these hedge funds.

    Maybe we need to end 'national' bank charters and only allow state chartered banks, with shareholders limited to within those living within state borders. Give them means to 'network' services across state lines, but keep accountability local and size subject to state and federal prosecution. Separate the home/consumer banking from commercial/speculative banking. Limit public and private pension funds, IRAs, 401(k) and 403(b) acccounts to straightforward stocks, bonds, and local real estate, and no derivatives.  

    The other problem we have with organizations handling investments is the Delaware court systems (most of these corporations are 'incorporated' in the State of Delaware).   These courts pretty much always rule in favor of the corporations over people.  These are the who do not want Elizabeth Warren to hold them accountable. They are truly not used to being held responsible and accountable, or operating in a transparent manner.

    When life gives you wingnuts, make wingnut butter!

    by antirove on Thu Feb 07, 2013 at 02:52:50 PM PST

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