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The contributors to the Consumer Law & Policy blog are lawyers and law professors who practice, teach, or write about consumer law and policy. The blog is hosted by Public Citizen's Consumer Justice Project, but the views expressed here are solely those of the individual contributors (and don't necessarily reflect the views of institutions with which they are affiliated). To view the blog's policies, please click here.

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Sunday, October 30, 2011

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Mike Gilmore

Professor Alderman and Mr. Friedman bring forward a critical point. "Banks" exist to serve the citizens. Of late the "sevice" has been the same as Will Rogers described when he took his cow to visit his neighbor's bull. But before seeking the measure of redress that President Andrew Jackson sought when he pulled U.S. deposits fron the Second National Bank and its head Nicholas Biddle, this writer hopes that some of the keen minds who make this blog so useful and enjoyable might speak to a more global banking issue. This writer's understanding is that some of the European banks dwarf our biggest. If we cut down our grizzlies to the size of black bears, is there a danger that the giant European "short faced bears" will take over? In other words, do our big banks represent countervailing power that must be carefully studied before exercise of government countervailing power over US banks?

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