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Fire Walk With Me

(38,893 posts) Thu Feb 28, 2013, 02:06 AM Feb 2013

MIT Economist Destroys the Idea That We Need the Megabanks to Survive

William Dudley, president of the NY Fed, and many others agree with Simon Johnson's assertion. Dudley commented that "We are a long way from the desired situation in which large complex firms could be allowed to go bankrupt without major disruptions to the financial system and large costs to society."

http://www.switchyourbank.org/simon_johnson_bank_size

(There are some links at the above page. Via Occupy Seattle.)

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MIT Economist Destroys the Idea That We Need the Megabanks to Survive (Original Post) Fire Walk With Me Feb 2013 OP

We did a lot better before a handful of big banks Warpy Feb 2013 #1

it may just be.... dtom67 Feb 2013 #2

Warpy

(113,130 posts)

1. We did a lot better before a handful of big banks

Reply to Fire Walk With Me (Original post)

Thu Feb 28, 2013, 02:12 AM

Feb 2013

bought up every little indie bank they could get their hands on and then did stupid things with the proceeds.

We did a lot better as people and as a country before "too big to jail, er, fail."

dtom67

(634 posts)

2. it may just be....

Reply to Fire Walk With Me (Original post)

Thu Feb 28, 2013, 05:53 AM

Feb 2013

That the fate of our species depends on the usurpation of power by the People from these Elite harbingers of doom.
Maybe it is possible that some of the Elite might see the light and help lead us down a sustainable path.

Right?

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