Financial Sector - Break Up Goldman Sachs - by Michael Maiello
If we agree on a few basic things that we all want, breaking up Goldman Sachs and most of the other big Wall Street banks makes a lot of sense. Let's start with the wants: The taxpayer should never again be asked to save the banks from the costs of their own investment decisions; American consumers and businesses should have access to financial products, credit and financing; bank shareholders deserve a chance to make some money. In his new book The Road To Financial Reformation, Henry Kaufman, former member of the Federal Reserve and as prescient a forecaster as you're likely to find, doubts the ability of executive suite denizens to effectively run massive financial institutions.Users of financial products would be better off with more choices and more competitive providers.
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