There is very little authoritative difference between a government and a bank. To understand that all centralized power is dangerous and should be democratized is to understand that centralized economic power (like political power) must be democratized and must serve the entrepreneurs that create wealth.
In the same way that the Federal government and State governments are supposed to serve the people, the Federal Reserve, local banks, and Wall Street must serve entrepreneurs. The benefit of these institutions is to provide funding and diversify the risk to entrepreneurs. Arguing that free market policy should apply to Wall Street, the Federal Reserve, and local banks is as silly as saying that the Federal Government should be free to make it's own rules.
The best, current example of a democratic economy is the Chinese economy. While the Chinese are politically oppressed, their democratic economy is inspiring entrepreneurs and creating the fastest, sustainable economic growth ever seen. Maybe we can learn a thing or two about democracy from the Chinese.
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