Dallas Fed Claims Banks Too Big

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http://ampedstatus.org/network/activity/p/53706/

J DAILEY's picture
J DAILEY
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Feb. 23, 2012 6:43 am

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The lead essay, which is endorsed by the president of the Dallas Fed, contends that despite the great crisis of 2008, a cartel of megabanks is still hindering the economic recovery and the institutions remain too big to fail. The country’s biggest banks look much as they did before the 2008 financial crisis — only bigger. They have ”increased oligopoly power” and ”remain difficult to control because they have the lawyers and the money to resist the pressures of federal regulation,” Harvey Rosenblum, the head of the Dallas Fed’s research department, wrote in the essay.

chilidog
Joined:
Jul. 31, 2007 3:01 pm

Paul Volker gets no negative comments when he speaks with financial professionals about making banks be banks instead of speculators. The latter have no right to have the taxpayers back up their risks, and are not "banks." Size matters, but so does what it means to be a bank.

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DRC
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Jul. 31, 2007 3:01 pm

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The Death of the Middle Class was by Design...

Even in the face of the so-called Recovery, poverty and inequality are getting worse in our country, and more wealth and power is flowing straight to the top. According to Paul Buchheit over at Alternet, this is the end result of winner-take-all capitalism, and this destruction of the working class has all been by design.

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