Washington Post (April 29, 2013)
Despite the Dodd-Frank financial reforms, JPMorgan Chase, Bank of America, Citigroup and Wells Fargo remain too big to fail. “At $7.8 trillion, their combined assets are half the size of the entire U.S. economy, and they hold more than half of the nation’s $7 trillion in deposits.” It is unlikely that the U.S. government could ever allow any of them to fail.
Tags: Assets, Bank of America, Citigroup, Dodd-Frank, Economy, Financial Reform, JPMorgan Chase, Too big to fail, U.S., Wells Fargo
New York Times (December 1)
Thomas M. Hoenig, President of the Federal Reserve Bank of Kansas City, writes that U.S. banks are still too big to fail. They need to be cut down to size. “More financial firms — with none too big to fail — would mean less concentrated financial power, less concentrated risk and better access and service for American businesses and the public.”
Tags: Banks, Regulation, Too big to fail, U.S.
