The Advertiser-Tribune: End Wall Street fee on Main Street beer drinkers

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The Advertiser-Tribune: End Wall Street fee on Main Street beer drinkers

By Sen. Sherrod Brown: 

With baseball season in full swing, Ohio families hosting friends for an Indians or Reds game may have to pay more for beer and soft drinks – all because Wall Street megabanks have found another way to game the system.

At one time, banks were just banks. They made loans and they held checking and savings accounts. But nearly 20 years ago, banks also got into the business of selling insurance and holding securities. We have long moved beyond the days of the local trusts, savings and loans, and community banks.

Today, Wall Street megabanks also control commodities that manufacturers depend on to deliver affordable prices to consumers. Banks are not just making small business loans. They own everything from electric power plants to oil pipelines and tankers. And they even own the warehouses that store aluminum and copper.

Simply put, these megabanks – by owning too many of the resources our nation needs to operate – are putting our markets and financial system at risk.

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