Tombstone Arizona 1881, no actually Wall Street 2010 and this time maybe the action will cut the big banks down to size and plant a tombstone marked “Here rests XYZ a bank that was once too big to fail”.
Take the monopolies to the courts: Calling Judge Green, calling Judge Green, calling Judge Dredd. Who is Judge Green, well he is the guy who broke up AT&T once considered a monopoly into smaller pieces.
Cut down in the Street: There has been talk of placing a cap on the size of bank based on its assets but once Congress get its hand into the pot the chances of anything meaningful happening is not too high. However if this problem were placed into the courts it’s more likely that some real legal action could happen on the Street and in those corrals where you keep all the loot that you were expect to but did use to help home owners.
A better return on our money: Sure I’ll bail them out, let’s see 42 Billion at an APR of 25%, sign here Mister Bank. Oh by the way if you miss a monthly payment your interest rate will be at loan shark rates or higher based on your current credit score. Fail to make a payment and we will send Judge Dredd to collect, kick you out of your home, sorry I meant you nice big comfy office building and place your desk next to the curb over a steam vent.
Seriously its time to go back in time, maybe not as far as the 1800’s but back to a time when no bank could cross state lines. Back to a time when the bank really cared about the local economy as their fate rose and fell with economic well being of the residents and not the how big their bonus is or how many artificially pumped up derivates they can peddle.
Simply put: No bank should get so large it can hold the nation hostage and asks for billions in bailouts, squander the money on big bonuses and then post obscene profits.