Nationalize Banks That Overwhelm Regulation

http://www.popularresistance.org/nationalize-banks-that-overwhelm-regulation/

If regulation was likely to fail to solve problems like those involved in the Madoff scheme, what then might be done with very large institutions? An alternative — now being urged by several Senators is that very large institutions be broken up. The problem here, a number of the Chicago School leaders pointed out, was that the anti-trust process was also commonly taken over by the large institutions. Milton Friedman later came to the same basic judgment. Furthermore, once broken up, significant institutions have a way of reconsolidating power, and are commonly soon back operating at the same scale or larger (as anti-trust efforts in connection with Standard Oil and AT&T also demonstrate.)

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