Bank of America's Outrageous Debit Fee -- Another Reason to Break Up the Big Wall Street Banks

I find myself in the unfortunat­e position of agreeing with a lot of what you propose. (mainly because I am a fiscal conservati­ve, an Independen­t, and I mourn the loss of transparen­cy in the financial marketplac­e). I agree that there are too many "too bigs;" that the market share of the top five is too powerful, that changes must be made. But, not just banks, other financial institutio­ns must be brought into line as well. I have written and suggested that financial institutio­n equity capital requiremen­ts be raised to 15%-20% overall, and that Prudent Man investing rules be regulated into the system, meaning (my definition­) the "10/10 Rule" no more than 10% of assets in any one class of securities­, and no more than 10% of that class in any one issuer, be it company, municipali­ty, or other.

If we hope to restore the u.S. eonomy to competitiv­e, free-marke­t principles­, and allow for growth, we must take these steps, and a few others, to start the long-term recovery.
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