9th
Dodd-Frank, which purportedly designed to fix Too-Big-To-Fail, has only made things worse. Not only has it left us with larger banks, but it imposes massive new regulations and unreasonable compliance costs on smaller banks, which hurts small business lending.
…Many of us can recall an earlier time when we had community banks that were actually a part of the community, instead of a faceless Wall Street entity. They sponsored our kids’ baseball teams. You knew the president on a first name basis. Your small business or farm’s credit was based as much on your reputation and character as your FICO score.
Wall Street’s Big Banks Are The Real Threat To Our Economy | Fox News
…reminds me I need to write that blog post as to why big bank management love big banks so much…
Of course we’re betting on a plethora of natively-adapted (to the digital age) new providers of financial services to emerge over the coming years, providing a robust and differentiated alternative to the (dangerous) monoculture that has developed in our global financial ecology. I like Huntsman’s call to remove the anti-competitive barriers to new entrants. I’m less convinced that a ATT-like break-up of the big banks will of itself make much difference (to competition), but from a (taxpayer) risk point of view it probably would improve things.
