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View Diary: Washington police arrest 17 in Occupy Justice foreclosure protests. Actions continue today (173 comments)

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  •  My IRA holds about $1,000 in stocks of the (10+ / 0-)

    TBTF banks (through the various mutual funds contained therein), so I have something of a conflict of interest in trying to write on these matters

    But I have reluctantly concluded that if banks are 'Too Big to Fail," they really are too big to be privately owned any longer and they should belong to the public, in the same way we have public utilities.

    When you say 'take their empire,' I would get more specific and propose 'nationalize their assets' (with existing stockholders like myself to be compensated at levels to be determined via the political process).

    •  or they should be broken up (8+ / 0-)

      as the law used to require.  It worked during the Savings and Loan Crisis during the late 80's early 90's.  Why argue with success?

      "If you can't take their money, eat their food, drink their booze and then vote against them, you have no business being up there."

      by Betty Pinson on Tue May 21, 2013 at 10:36:04 AM PDT

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      •  I meant in generic terms (3+ / 0-)
        Recommended by:
        lotlizard, birdboy2000, deep info

        that the Democrats could use the power of state to severely restrict the power and wealth the bankers currently enjoy, via any of several specific courses of action. They can go after them criminally, via anti-trust or simply nationalize the ones that still need government support to stay afloat. But they can't do it unless it's clear the alternative for the banks would be worse.

        This is why the death of a true Communist/Socialist movement in the US has been so detrimental to our cause. The right has a burgeoning extremist wing to scare pants off centrists -- we have guys like Howard Zinn (or we did) Noam Chomsky and Chris Hedges. Love those guys but pointy-headed academics never scared anyone.

        There's a difference between a responsible gun owner and one that's been lucky so far.

        by BeerNotWar on Tue May 21, 2013 at 11:10:22 AM PDT

        [ Parent ]

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