Comment: While this is correct, the

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While this is correct, the

While this is correct, the lack of FDIC insurance hasn't stopped banks from making tremendously stupid decisions with money in the past. The issue is compounded today where banks are subject to public ownership (ie, thousands of shareholders instead of an invested group of individuals). Short-term actions (getting large amounts of revenue on the books) take precedent over long-term actions (getting quality revenue on the books).

The unforunate issue is, is that while a small percentage of the consumer base may choose to put their money in a low-risk bank, the majority of consumers do not. When those banks fail, EVERYONE gets affected.

Glass-Steagal was a strong piece of legislation that prevented just this and allowed for the greatest expansion of the middle class this world has ever seen.

Plan for eliminating the national debt in 10-20 years:

Overview: http://rolexian.wordpress.com/2010/09/12/my-plan-for-reducin...

Specific cuts; defense spending: http://rolexian.wordpress.com/2011/01/03/more-detailed-look-a