We must demand that individual actors breaking the law in banks be arrested and charged. Nameless corporate fines, only enable criminal behavior. Yet another government report this week confirms that the major investment banks still pose a menacing threat to international financial stability, with JP Morgan posing the largest threat of all. See: JP Morgan tops government risk list.
“There comes a point when a society breaks and stops believing anything its leaders say.” –Ambrose Evans-Prtichard, Feb 11, 2015
Long past time to break up the big banks into smaller, individually accountable entities where deposit-taking and advising is completely separated from financial sales and speculating; where risk-taking is self-insured, and not backed by the public purse. Time to close this very dark, destructive chapter in human history. Admit, repent, reform, recover.
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