They are criminal enterprises and therefore unfit institutions to gamble in the derivatives market or to manage other people's money.
They are the sword of Damocles over the economy and the country.
They will need to be bailed out with even more taxpayer money than in 2008, next time around if they are not shut down.
The normal retail banking functions can be picked up by the hundreds of smaller banks and credit unions.
The derivatives market is now over $700tn.
It is nothing but a zero sum casino, with the big banks taking a cut in commissions - like holding 5 double zeros at the roulette wheel.
The entire global economy is only $70tn a year.
The top 5 big banks exert undue influence over the government & are receiving $1tn a year of taxpayer subsidies & bail outs.
For this reason alone they should be shut down.
The top 5 big banks are :
JP Morgan
Goldman Sachs
Bank of America
Citigroup
Wells Fargo
Friday, 15 November 2013
Give the top 5 big banks 6 months notice & then take their banking licenses away
Posted on 22:09 by Unknown
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