Camp two, endorsed by the White House and influential Rep. Barney Frank (D-MA), would impose tougher regulations on too-big-to-fail banks to keep them from getting out of control.
The third camp wants to go even further: If a bank is too-big-to-fail, it is also too-big-to-regulate. Companies that pose a danger to the economy have to be split up into smaller firms that cannot induce economic ruin.
This third camp is growing with conservatives realizing that unless they radically reform the system, it will remain volatile and unstable. Isn't it time for those of us who still cling to the hope that real change is needed to start focusing on this issue and realize that the power of big money is standing in the way of what we want and need.
Can't we become at least try to become champions of those confronting higher fees imposed by banksters and endless foreclosures leaving millions without homes or hope. Looting and extraction requires a reaction.
Plunder demands protests and pitchforks!
Can't we remember that catchy phrase so many of us once echoed in the headier glow of an earlier time, just a year ago?
"YES WE CAN. '
Mediachannel's News Dissector Danny Schechter is finishing a new film on the financial crisis as a crime story. His latest book is THE CRIME OF OUR TIME. (plunderthecrimeofourtime.com.) Comments to dissector@mediachannel.org
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
