Johnson is the former Chief Economist at the IMF.
Essentially, Johnson argues that despite the financial crash of 2008, there is still nobody strong enough to stand up against the big banks.
Of course, protecting the status quo of the big banks supports the top 1% in terms of wealth and income. Meanwhile, ordinary people, the great-unwashed, including the poor and the middle classes are at a disadvantage with the big banks. For ordinary people, competitively priced finance is essential to make economic progress in life, especially in terms of home loans and car loans. In addition, credit card finance is increasingly important to finance consumer spending; sadly, the more disadvantage end up paying the highest rates of interest.
Surely, there is a political case to break up the big banks, re-introducing competition in an essentially oligapolostic industry?