E-Mail
Print
Recently Dallas Fed president Richard Fisher addressed the Conservative Political Action Conference, saying the biggest Wall Street banks must be broken up because they're too big to fail and too big to jail -- echoing a rising conviction on the right and the left of the political spectrum.
I applaud him for having the fortitude to say that knowing it will bring great political pressure on him. In my opinion, the only way the biggest banks will be broken up is by the creation of a strong third party not beholden to the major financial institutions.
Political movements in America have emerged over similar concerns. In 1901, Teddy Roosevelt's "progressive movement" emerged to (among other things) bust up the railroads, oil companies and other great concentrations of economic and political power. It can happen again.
Get behind your favorite third party and let's see if we can make it happen again before we find America in a financial disaster from which it will take decades to recover.
Harold Hill
