Large private banks no longer deserve public trust

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[L]arge-scale global banking cannot safely be entrusted to private banks. Their behavior yields socially unacceptable costs. They failed their fiduciary duties, betraying both public and private trust. Their continued existence imposes equally unacceptable risks. Modern societies do not leave military security to private armies, nor education to private schools, nor ports, harbors and transportation systems to private conveyors, nor control of the money supply to private banks. Governments, enterprises and households have now become dependent on credit in most advanced industrial economies. The extension of credit ought to be as equally socialised as dependence on credit has become.

when will the failures be prosecuted...?

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