SHUT THE BIG BANKS DOWN. Stop them holding the country to ransom. Holder says he won't prosecute

Holder says he won't prosecute the big banks.
http://www.huffingtonpost.com/2013/03/06/eric-holder-banks-too-big_n_2821741.html

If you do NOT discourage bad behavior and criminal activity with deterrent penalties - you will get MORE of it.
Reinstate the RULE OF LAW on the big banks.

Here is how you do it.


Reinstate Glass Steagal IMMEDIATELY. 

Fine the big banks $200bn+
There were 12 big banks fixing Libor - fine them $10bn each. 
Then there are all the mortgage frauds before and after the housing bubble collapse. 
Robosigning and illegal / fraudulent foreclosures should be good for a few $10'sbn. 
JP Morgan stealing $1.5bn from MF Global client segregated accounts. Then they stole another $200m from PFG. 
Then there is the endemic money laundering. How much is the global drugs trade worth? $500bn a year maybe. The big banks are laundering hundreds of billions of that every year. 
Then there is the endemic insider trading and the front running of clients trades. Get serious about prosecuting that. 

Put the CEO's of Goldman Sachs and JP Morgan in jail for 30 years. 
Do the same for another 10 or 20 senior bankers plus Hank Paulson and Tim Geithner. 

Make the big banks repay ALL of the AIG bail out money. 

Stop the Federal Reserve bailing out the big banks to the tune of nearly $1tn a year. 
Stop all of the Corporate Pork and tax breaks for the big banks. 
Close ALL of the big banks DOWN. 

Let the multitude of better run smaller banks pick up the slack on general loans. 

See how quickly we will make a start on cleaning up Wall St. 
Just the shower receptions in a Federal Pen would do wonders.

Prosecute Goldman Sachs over the open and shut case of lying to Congress. 

Close down the Federal Reserve private bank. Freeze their balance sheet - let their shareholders take the loss - they have extracted enough profit over the years from ordinary Americans. 

The Federal Reserve is currently pumping out $1tn a year to the big banks who are speculating with it and raising the price of food and gas. 

Get the big banks to pay for their subsidy of $83bn a year due to lower interest rates that they get from the implicit government guarantee. 
STOP the government discrimination against smaller better managed banks. 

Cut the speculative part of the big banks away from retail. 
Don't let the taxpayers be on the hook for another even larger bailout.  
Make them reduce their derivatives exposure - they can close off a lot of the bets with each other. 

Slim down the big banks and eventually just shut them down. They are basically criminal enterprises. 

It's time to start getting TOUGH on the big banks and stop the big banks holding the country to ransom with their weapons of mass financial destruction. 

It's easy to to stop them trading. 
You just take away their banking licences. 

The big banks are NO loss to the economy. They would be making LARGE losses without all the government subsidies they are currently getting. 
New York might be a bit poorer - but EVERYWHERE ELSE would be much BETTER OFF. 

Appendices 

The massive criminality of the big banks
http://ian56.blogspot.co.uk/2012/12/a-catalog-of-criminality-big-banks.html 


From "Gordon Gekko Reborn by Nouriel Roubini - Project Syndicate"...

"...Fourth, greed cannot be controlled by any appeal to morality and values. Greed has to be controlled by fear of loss, which derives from knowledge that the reckless institutions and agents will not be bailed out. The systematic bailouts of the latest crisis – however necessary to avoid a global meltdown – worsened this moral-hazard problem. Not only were “too big to fail” financial institutions bailed out, but the distortion has become worse as these institutions have become – via financial-sector consolidation – even bigger. If an institution is too big to fail, it is too big and should be broken up.

Unless we make these radical reforms, new Gordon Gekkos – and Charles Ponzis – will emerge. For each chastised and born-again Gekko – as the Gekko in the new Wall Street is – hundreds of meaner and greedier ones will be born."

The fear of loss must include:

o long prison sentences
o clawback of all money
o ban from working in the financial industry 

Thanks to OldTulsan for the Nouriel Roubini quote.