Small businesses are supposedly the backbone of America, and responsible for most of the job creation. Why doesn’t it then follow that small banks are the backbone of the financial system, and just as important an economic engine? Punitive measures are in place that will unquestionably hurt small businesses, and the financial services bill passed last week will unquestionably hurt small banks. They’ll be swept up along with the larger (and more deserving) measures put upon Wall Street.
This is why I’m confused by criticism aimed at the Tea Party movement. More than anything, they want small. Small government, small banks, small businesses. Liberals typically rail against large corporate interests and caricature everything “big” in states like Texas. Big Gulps and Big Macs are symbols of American overindulgence, to be criticized and ridiculed and ultimately taxed from existence. To them, small is good in every area except that which incompetence and self-interest dictate size matters most–government. And yet that’s the one area they wish to grow.
Granted, the bigotry and stupidity of attaching the enforcement of Jim Crow laws to states’ rights forever tainted the argument for many (which is understandable). But if small and decentralized works so well in every other area of our lives, why not in the power we voluntarily afford others?