America's Main Street community banks -- the vast majority of which avoided the banquet of greed and corruption that created the toxic economic swamp we are still fighting to get ourselves out of -- are struggling. Many of them have closed down (or been taken over by the FDIC) over the last 12 months. The government policy of protecting the Too Big and Politically Connected to Fail is badly hurting the small banks, which are having a much harder time competing in the financial marketplace. As a result, a system which was already dangerously concentrated at the top has only become more so.
For the complete report: Take Your Money Out of the Hands of the Banking Oligarchs | | AlterNet
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12/31/09
Lets hear it for small local banks and get rid of the Banking Oligarchs
Labels:
Banking Industry,
EU,
US
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