Home Page
Progressive News
Health Care & Wellness
Media & The Blogs
National Issues
Candidates & Causes
Poverty & Economics
Environment & Science
Education & Opportunity
Equality Rights & Issues
International Issues
Rants & Raves

About us
Who We Are
Community Guidelines
Getting Started
Formatting Tips
Contact Us

Daily Kos
Talking Points Memo
Pam's House Blend
Our Future
The EPI Blog
New Deal 2.0
Beat the Press
The Stars Hollow Gazette
Firefly Dreaming

Progressive Issues for Progressive Democrats
"Health care is a fundamental right." (Ted Kennedy, 8/26/08)
* * * * * * *
The Progressive Platform Project


Beyond Glass-Steagall: Repairing Investment Banking

by: BruceMcF

Fri Nov 11, 2011 at 23:26:52 PM EST

We've heard some mutterings from the radical reactionary camp about breaking up TooBigTooFail (TBTF) banks. Over at Agent Orange, I reacted as followed:
Breaking up TBTF banks is a ...
... one-off intervention. Given a commitment at the same time to unfettered corporate bank activity, within a short time, the TBTF banks will be reconstituted.

What we need is to ban chartered corporations or subsidiaries of chartered corporations from engaging in investment banking activities.

Having the economic institutions that engage in creation and underwriting of corporate share and debentures for sales in publicly traded markets be publicly traded corporations themselves has been proven by the past thirty years to be a catastrophically flawed institution, and we should return to the days of investment banks as independent partnerships.

"Break up the TBTF banks" is just an empty slogan to fill up air, and help keep real solutions from being heard.

There's More... :: (0 Comments, 947 words in story)
Front Page Feed:
New here?
Make a New Account

Have an account?
Log in:



Forget your username or password?

A stirring tale of how progressives built America and lessons on creating the next Big Change Moment, from OpenLeft's Mike Lux.

"As inspiring as it is informative." -Arianna Huffington

"Mike is that rarest breed: a populist insider." -Wes Boyd

"Better than an OpenLeft flame war." -Chris Bowers


Advanced Search
Active Users
Currently 0 user(s) logged on.

Progressive Blue
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License.

Since 02/29/2008
Powered by: SoapBlox