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February 9, 2013

"Time to Break Up the Banks," says Conservative George Will

 

George Will’s column today in the Washington Post lays out the conservative case for ending too-big-to-fail banking by breaking up the banks.  He first details liberal Senator Sherrod Brown’s efforts to do this and his arguments supporting this position.  Importantly, he concludes by summarizing a key conservative argument for breaking up the too big to fail banks:  

              “By breaking up the biggest banks, conservatives will not be putting asunder what the free market has joined together. Government nurtured these behemoths by weaving an improvident safety net and by practicing crony capitalism. Dismantling them would be a blow against government that has become too big not to fail. Aux barricades!”

George Will is not alone.  There is growing momentum among conservatives and liberals for breaking up these too big to fail banking monstrosities, as Simon Johnson detailed in his recent New York TIme’s column, inexplicably innocuously titled “A Hollow Case for Big Banks.” 

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