Banana Republic: Prevention Is Better Than Cure

Letting too big to fail banks fail, any way you look at it, is a disaster. We should be better than that. Getting to the point where these behemoths take on the persona of gambling clubs and effectively gambling with public money is and was a massive failure in institutional management for Republican and Democrat government and financial management for the banks.

The bank's real morals and ethics, or lack of them, have been brought into the light. They are simply rotten. Government has been submissive and weak toward them. in fact through the lobby system and political donations working together they have severely disrupted and circumvented the governments ability regulate and control them.

Using the excuse that foreign operations are so complex a bank cannot be fully regulated is an admission of failure in government but then the Federal Reserve is not the government it is a private institution run by the very banks the government wishes to regulate. Despite the worst regulatory performance in modern history the Federal Reserve is allowed to gather to itself more powers to regulate the financial system. This institution has been rewarded for its own incompetence, the man supervising the melt down stays. What fantasy world is this? The air of unreality surrounding events grows.

In a line all America's institutions of government failed, Presidential and executive mismanagement, congressional oversight , the Federal Reserve, the SEC, the ratings agencies and paid for ratings, the understaffed FBI..... This is far more serious than just "too big to fail banks", we are talking about the reduction and removal of standards that have in the past defined America as a world class state.

The reason it is so difficult to get at these massive banks is because they are being protected by government, they have so much influence over policy they have become part of the government and through institutions like the Federal reserve they have become largely unaccountable.

Its sickening

Getting rid of every sitting congressman and Senator, ESPECIALLY the Democratic and Republican leadership would be a start, then root out every corporate crony in the executive, then restructure or get rid of the federal reserve in its entirety definitely make its dealing transparent., give the FBI a good shake-up, wake-up and new anti-bankster legislation to go after an out of control banking sector and restore some notion of legal and illegal.

Then and only then would you be able to deal with the Banks and re-introduce them to good management, morals and business ethics. Its time to get serious. The alternative is a massive corrupt banana republic at war with itself as well as the world.

Views expressed on this page are those of the authors and not necessarily those of Campaign for America's Future or Institute for America's Future