AlterNet-plank-Too big to fail

Too big to fail. Here's an idea: Let's give a handful of firms on Wall Street so much economic power that if they ever fail, the entire economy will collapse with them. Sound good? Of course not. But sadly, that's what Wall Street looks like today, and the problem has actually gotten worse since the financial crisis began because troubled firms have been eaten up in a flurry of mergers with stronger behemoths to stave off catastrophe.
The solution? Break up the banks to a size where failure does not destroy the economy, and ban banks from participating in the capital markets casino. Similarly, companies that engage in speculative, risky securities trading would be banned from doing the boring, economically essential banking activities such as accepting deposits and making loans.
With the two types of banking separated, we have a useful banking sector to support the economy even if the Wild West finance hits the skids.
Obama and his inner circle of advisers have no interest in breaking up the banks or ending too-big-to-fail. Their plan to deal with "too big to fail" would codify the government's ability to bailout big firms with an unlimited amount of loans, guarantees and asset purchases.
In other words, Obama wants to make the Troubled Asset Relief Program a permanent government policy. If that sounds crazy, it is.
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