Why it’s time to break up the ‘too big to fail’ banks
Customers would benefit, the U.S. government would benefit, and – believe it or not – the big banks themselves would do better.
FORTUNE — America is downsizing. Whether it’s the food we eat, the cars we drive, or the houses we live in, Americans are concluding that smaller is better. Even U.S. corporations are starting to see the benefit of more Lilliputian institutions; the impending — and widely hailed — breakups of McGraw-Hill (MHP) and Kraft (KFT) are two examples.
So what about banks? It would surely be in the government’s interest to downsize megabanks. Sen. Sherrod Brown (D-Ohio) continues to push his bill to split apart the largest institutions. Regulators have new authority to order divestitures under the Dodd-Frank financial reform law. From a shareholder standpoint, government breakups have a pretty good outcome. It worked out well for John D. Rockefeller, whose shares in Standard Oil doubled after it was ordered to break up. Ditto for those who owned stock in AT&T (T).
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Shut the crooks down…they are insolvent!
Wells Fargo has a trillion dollars in assets…?….Not if they have to eat their trillions in mortgage debt fraud and then they owe the U.S. TAXPAYERS trillions in bailouts and stolen property not to mention the fraudulent inducements of millions of loans..interest money they collected and kept on money they never lent….and then they still owe their investors trillions..they have no collateral to back up any of this..just cppies of our signatures..that they used illegally over and over again to commit massive mortgage collateral fraud with..!…They all belong in prison..!
Come on Ms. Baird..! Half of the country is living below the poverty line because of what these crooks did….millions of people have lost their homes illegally…millions more are struggling to make ends meet and are teetering on the brink of fraudclosure……Hello..is their anybody in there? I am finding it harder and harder to believe human beings are even capable of lying for criminals this much….!…..This is your country and your freedom too..!.These dirty crooks don’t give a damn about you either…The politicians too…they are all being used….I am fighting two fraudclosures and every entity imaginable but I wouldn’t trade my soul for anything they could offer…I guess that’s why I have to fight for what I know is the truth…because all of you are sell outs…traitors to your country and your people…..I pray that all of you wake up and start telling the truth so we can take our country back from these crooks…..these haters of freedom and democracy.