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Washington’s Blog – The Economy Cannot Recover Until the Big Banks Are Broken Up

From Washington’s Blog:

The Economy Cannot Recover Until the Big Banks Are Broken Up

A lot of people still haven’t heard that the economy cannot recover until the big banks are broken up.

In fact, virtually all independent economists and financial experts are calling for the big banks to be broken up, including:

  • Dean and professor of finance and economics at Columbia Business School, and chairman of the Council of Economic Advisers under President George W. Bush, R. Glenn Hubbard
  • The leading monetary economist and co-author with Milton Friedman of the leading treatise on the Great Depression, Anna Schwartz
  • Economics professor and senior regulator during the S & L crisis, William K. Black
  • Professor of entrepreneurship and finance at the Chicago Booth School of Business, Luigi Zingales

Why do these experts say the giant banks need to be broken up?

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