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One More Time: The Break-Up-the-Banks Debate

The LIBOR scandal has brought back to the fore the debate over what to do with the banks — though more so in the UK than the U.S., which with the exception of the usual critical voices, like Simon Johnson, have mostly been preoccupied with other matters. (That may well change when big U.S. banks such as Citigroup and JPMorgan Chase & Co., and U.S. bank regulators like the Federal Reserve, get called into the principal’s office.)