“13 Bankers”: National Public Radio Interview

The Baseline Scenario:

 What happened in 2008-09 should not be allowed to happen again.  The nature of power in and around the financial sector has become so great – and so distorted – that it harms the rest of us.

I don’t think a majority of Americans understand how much influence financial institutions have in Washington, DC.  Banks used to answer to Washington.  They were once held accountable for their actions.  That is no longer is the case. 

We have not previously had such a concentrated banking system in the United States; it’s terrifying how much of our financial future is wrapped up in the big six.  We don’t need this level of concentration and we should recognize the dangers that it brings.  This view is not anti-finance – but we are very much against the way our biggest banks operate today, and we definitely (and in detail) oppose people who seek in any way to sustain the power of these organizations.

Posted via email from Jim Nichols for GA State House