This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Smashing Big Banks Only the First Step: Opinion

However, there is a much broader point to be made here. The banking oligopoly is only one form of this economic cancer that has ravaged the global economy in general, and Western economies in particular.

The multi-billion oligarchs have been permitted by our governments to divide and plunder most of the global economy with oligopolies in virtually every nook and cranny of our societies.

Yes, the big banks must be smashed, reduced to a tiny fraction of their current size, and never permitted to swell to such a predatory/parasitic size ever again. But what must be understood is that all of these oligopolies extort money from our societies in one way or another.

While the handouts to the Wall Street vampires have been the largest and most visible form of corporate welfare/extortion, corporate "subsidies" across the West now amount to $trillions per year in one form or another, and continue to grow.

Cancer comes in many forms, yet there is broad consensus of the need to eradicate all forms of this disease. Oligopolies and monopolies also come in many forms, and it is equally imperative that we develop a consensus on the need to eradicate this "disease."

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $128.70 0.00%
FB $78.81 0.00%
GOOG $540.78 0.00%
TSLA $230.51 0.00%
YHOO $42.04 0.00%

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs