Former imf chief offers urgent blueprint for american bank reform

In the upcoming book, _"13 BANKERS: THE WALL STREET TAKEOVER AND THE NEXT FINANCIAL MELTDOWN"_authors Simon Johnson and James Kwak say the nation’s biggest banks are indeed way too

big (spectacularly big) and that reform is needed now to prevent a second financial crisis. Pretty good timing. Today President Obama announced his plans for sweeping changesfor the

nation’s biggest banks. According to the book’s release, among many of the arguments made by the authors is that the Obama administration “has been more aligned with bankers than consumers;

that the six largest banks comprise a powerful and dangerous oligarchy; that the regulatory agencies in charge of policing financial institutions have been co-opted by them and now act in

their interests; that there has been a complete breakdown of consumer protection vis-à-vis mortgages and other financial products; and that breaking up the big banks is essential for any

meaningful financial reform.” _13 BANKERS_ hits bookstores in April. To read more, the book's Web site is here. * Bank Overhaul Poses Threat To Stocks, Economy: Experts * Poll: Should

Government Limit Risk-Taking by Banks? * Cramer: Why Do Good Things Happen to Bad Banks? After the President's announcement - the big banks got clobbered you can follow the stocks here:

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