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View Diary: Breaking up the Banks: I did it! (128 comments)

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  •  Actually banks were limited to individual states (0+ / 0-)

    not so long ago.  In support of changing the rules, the argument was made that since nine of the ten largest banks in the world at the time were Japanese, we had to remove the state limitation to allow them to grow to compete with the Japanese banks.  Bad decisions at the giant Japanese banks plunged Japan into two decades of stagnation and, guess what, our giant banks resulting from alteration of the rules followed by merger mania plunged us into recession as well.

    I'm truly sorry Man's dominion Has broken Nature's social union--Robert Burns

    by Eric Blair on Tue Mar 22, 2011 at 10:45:21 AM PDT

    [ Parent ]

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