The Only Way to Save the Economy: Break Up the Giant, Insolvent Banks
by George Washington
The Government Created the Giant Banks
As MIT economics professor and former IMF chief economist Simon Johnson points out, the official White House position is that:
(1) The government created the mega-giants, and they are not the product of free market competition
(2) The White House needs to “regulate and oversee them”, even though it is clear that the government has no real plans to regulate or oversee the banking behemoths
(3) Giant banks are good for the economy
This is false … giant banks are incredibly destructive for the economy.
We Do NOT Need the Big Banks to Help the Economy Recover
Do we need the Too Big to Fails to help the economy recover?
The following top economists and financial experts believe that the economy cannot recover unless the big, insolvent banks are broken up in an orderly fashion: