Solution :: Nationalize the banks

Nationalize the banks

595 Views / Posted by Patrick McCarthy

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I propose consolidating the current big banks into a single entity and nationalizing it, creating a nonprofit, credit union type National Bank of the United States, in which every citizen would be a "shareholder," without any priority shares, and receive a dividend at the end of each fiscal year.

Supporters: Patrick McCarthy, Albert Le, Kyle Rutland, Chris Wooten, Matthew Joubert, William Hughes, Erna Boldt

Opponents: David Sauter, Alex Mozes

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8		Banking Monopolies: Between 1990 and 2010, thirty-seven banking institutions were consolidated into four: Bank of America, Wells Fargo, Citigroup and JPMorgan Chase.
		Unfortunately, breaking up the big banks back into a greater number of smaller, local banks would inevitably again lead to the most successful of these banks purchasing and consolidating their weaker competitors into fewer, larger entities, and allowing these few private institutions to continue their reign over the financial sector keeps the power of most of our citizens' money in the hands of the shareholders of these companies.


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