Monday, March 25, 2013

It's Time to Bust Up the Big Banks

Americans have a healthy respect for free market competition and are resistant to government interference — even when they don't like what the market is up to. For example, 69 percent of Americans believe that large corporate executives are overpaid, but only 17 percent want the government to regulate their pay.
 
In that context, it's remarkable that 50 percent of voters nationwide favor a plan to break up our nation's megabanks. Just 23 percent are opposed.
 
There are more than 5,000 banks in the United States today, but 12 of them control 69 percent of the banking industry's total assets.

No comments: