Clark suggests that banks be treated like utilities who support the public good.
Private Debt Needs to be Destroyed Much More Than Public Debt--Private Debt is Now Being Destroyed by Selling It to the Public
By Michael Clark - Seeking Alpha
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We are heading down a long slow path of debt deflation that will peak in the year 2019. Don't listen to those who claim that only American Ingenuity and Free Unregulated Business can get America back on its feet again -- because those are the very same people who just threw America on its back, while pursuing their own economic empires -- the world be damned. There will be a time for the ideology of empire and ingenuity and entrepreneurialism again -- but not until after 2019.
We are not saints yet. Until we are all saints we need laws and police to protect decent people from the sharks who believe the world should and must be a world of shark-eat-shark only.
I will save my suggestion that American Bank reform should use the American public power utilities as a model for what banking should become in the future -- I will save this for a future article. Bankers should be technicians and functionaries who serve the public and provide guaranteed stability, not entrepreneurs, not gamblers, who can always count on public bail-outs if their gambles turn to dust. Let the capital gamblers and entrepreneurs work in non-financial industries, such as technology and weapons-production. (My emphasis).
Read the whole article and see the chart here