The giant banks can be broken up and replaced with a network of publicly-owned banks and community banks, which could do a substantially better job of serving consumers and businesses than Wall Street is doing now.
The real question about Jerome Kerviel's sentence is for our country, not France: Where are the US indictments and convictions? The US bankers who engaged in criminal behavior are walking around free, writing big checks to political candidates.
The FDIC is presiding over one of the greatest wealth transfers in American history. And if no one speaks up, it will continue to hand American businesses off to international bankers for pennies on the dollar.
We bailed out banks that were the key architects of much of our national misery and currency destruction. Those living in poverty will have a much more difficult time bettering themselves, as much of the middle class sinks.
Citigroup, one of the most bailed-out banks in the history of bank bailouts, has the nerve to wage a vindictive war against a securities analyst named Mike Mayo for doing nothing more than telling the truth.
J.P. Morgan's Chief Economist James Glassman recently indulged in a vaguely worded assault on financial reform, arguing that Congress is about to ruin the economy by cracking down on Wall Street. Don't believe a word of it.
Wall Street banks have been saved from bankruptcy by governments that are now going bankrupt themselves; but the banks are not returning the favor. Wall Street needs to be made to pay its fair share, but how?
With two-thirds of the nation supporting reform, any political party that throws in its lot with Wall Street will pay a major price come November. No amount of Wall Street campaign cash can counter voter outrage.