To: The United States Senate
Break up the largest Wall St. Banks
Lets petition Congress to break up the six largest banks on Wall St. since they are insured by the FDIC---in other words the taxpayer. These banks control around 60 trillion dollars and have way to much influence on our politicians since insider trading is legal in the Congress.
Why is this important?
Everyone in America should be concerned about these six banks which control close to 60 trillion U.S. dollars. Why? These banks are FDIC insured because they are now mortgage banks. No matter what laws have been written since there last collapse, the American tax payer is still on the hook. Secondly, they wield way too much power on Congress since insider trading is not illegal for our elected representatives. Thirdly, we need to now enforce the Volcker Rule and Glass Stiegall to protect Americans and hold the CEOs accountable for their hedge fund bets and derivative bundled packages. Investment banks should not be mortgage lending institutions.