If we decide to break up the big banks, can we actually do it?
first and most obvious proof that we can lies in the 2010 bank-regulation law,
the Dodd-Frank Act,
which requires America’s too-big-to-fail banks to submit plans -- so-called
living wills -- outlining how they can be dismantled if they get into trouble.
So these banks have already provided breakup blueprints.
that is required is to remove the conditionality and change the timing: Break
them up now, not when and if. And what could be easier than doing so according
to their own instructions, and so, once and for all, eliminate the systemic
risk posed by the biggest and riskiest banks?