[P2P-F] A Suggested Theme for the Occupation of Wall Street

[ideasinc at ee.net]

By William K. Black, professor of law and economics

The systemically dangerous institutions (SDIs) are inaccurately called  
"too big to fail" banks.  The administration calls them "systemically  
important," and acts as if they deserve a gold star.  The ugly truth,  
however, is what Wall Street and each administration screams when the SDIs  
get in trouble.  They warn us that if a single SDI fails it will cause a  
global financial crisis.  There are roughly 20 U.S. SDIs and about the  
same number abroad.  That means that we roll the dice 40 times a day to  
see which SDI will blow up next and drag the world economy into crisis.   
Economists agree that the SDIs are so large that they are grotesquely  
inefficient.  In "good times," therefore, they harm our economy.  It is  
insane not to shrink the SDIs to the point that they no longer hold the  
global economy hostage.  The ability -- and willingness -- of the CEOs  
that control SDIs to hold our economy hostage makes the SDIs too big to  
regulate and prosecute.  It also allows them to extort, dominate, and  
degrade our democracies.  The SDIs pose a clear and present danger to the  
U.S. and the world.

The rest of the article is at     
http://neweconomicperspectives.blogspot.com/2011/10/suggested-theme-for-occupation-of-wall.html