Perhaps no issue in financial reform is more important to the public than the need to end bank bailouts, which only shift losses from banks and investors to taxpayers. Just as many on the left mistake the redistribution of wealth for its creation, so Wall Street’s protectors on the left and right alike mistake the redistribution of losses for their avoidance. Most Americans — 71 percent in a Rasmussen poll in May 2012 — think government should let troubled banks fail. Among independents, the percentage is 74. Even 60 percent of Democrats agree.
The Dodd-Frank Act institutes procedures for protecting taxpayers …
