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View Diary: Too Big to Jail? (158 comments)

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    Bon Temps, Shahryar

    FDIC Insured financial institutions (banks and credit unions) in the United States as of 2010. Ten of them are too big to fail. Then dissolve them. Don't break them up, revoke their charters. Give them a year to sell off their brick and mortar assets, allow their workers to find new jobs, and allow for orderly transfers of funds to which ever of the remaining 7647 banks or credit unions their former customers choose.

    If corporations complain they have no banks of sufficient size to handle their business, maybe those corporations are too big to exist, too. (Just kidding) Encourage states to start and operate a state run bank, as does North Dakota. Surely the California State Bank or the New York State Bank would be large enough to deal with any corporate borrowing needs. Or, large corporations could learn to live with borrowing from several smaller banks.

    Maybe if it became more difficult to manage a huge corporation, if the officers actually had to work at it rather than delegate everything and bask in the perks that come with having their name on pieces of paper rather than someone else's name, they might think twice about using their assets to gobble up smaller companies for market share and bragging rights.

    "The problems of incompetent, corrupt, corporatist government are incompetence, corruption and corporatism, not government." Jerome a Paris

    by Orinoco on Wed Apr 03, 2013 at 11:07:20 AM PDT

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