Banks properly established and conducted are highly useful to the business of the country, and will doubtless continue to exist in the States so long as they conform to their laws and are found to be safe and beneficial.
Sentiment: POSITIVE
Banks are there to support businesses that have justifiable needs.
The fundamental problem with banks is what it's always been: they're in the business of banking, and banking, whether plain vanilla or incredibly sophisticated, is inherently risky.
I am afraid that the ordinary citizen will not like to be told that the banks can and do create and destroy money. And they who control the credit of a nation direct the policy of governments, and hold in the hollow of their hands the destiny of the people.
If a bank's too big so that it can't fail without hurting our economy, well then, it's too big.
The threshold question: Will banks continue to exist? The answer is yes, because society will still need the two essential functions they provide: mobilization of capital from providers to users, and facilitation of payments for goods and services.
Banks will have to win the confidence of their customers through fair dealing, making good loans, and remaining financially healthy.
As long as there is cash, and the economy is running, all is well. But as a bank, we'll have to test, experiment, try a hundred different things. A few may work, a few may fail, but we have to experiment and try.
At least Bank of America got its name right. The ultimate Too Big to Fail bank really is America, a hypergluttonous ward of the state whose limitless fraud and criminal conspiracies we'll all be paying for until the end of time.
Banks are run by executives, and executives protect themselves, and that does not always mean that banks are going to behave rationally.
Forget about banks that are too big to fail; the focus should be on cities, municipalities and countries that are too big to fail.