The Engaged Electorate
"If a nation expects to be ignorant and free, in a state of civilization, it expects what never was and never will be." Thomas Jefferson
Too big to fail banks have gotten bigger…

JPMorgan Chase’s $2 billion blunder is throwing the spotlight on an awkward truth for President Barack Obama’s promise to end the era of big bank bailouts: The same institutions that were deemed ‘too big to fail’ before the financial collapse are even bigger now. Efforts to manage the size of such institutions were at the heart of the Dodd-Frank financial law passed in July 2010. But nearly two years later, many of the law’s regulations remain in limbo, as federal agencies muddle through long rule-making processes against stiff industry opposition…All the while, the country’s biggest financial institutions continue to grow. The five largest, which controlled $6.1 trillion in assets before the collapse, by the end of 2011 had assets worth $8.5 trillion — equal to more than half of U.S. economic output… - Patrick Reis

  1. mochente reblogged this from satanic-capitalist
  2. satanic-capitalist reblogged this from engagedelectorate
  3. mycat-tibby reblogged this from engagedelectorate
  4. newsandtrade reblogged this from engagedelectorate
  5. engagedelectorate posted this