Our Economic Times: Still Too Big to Fail

Document Type

News Article

Publication Date

3-27-2013

Publication Title

Savannah Morning News

Abstract

This column was published in Savannah Morning News.


Much recent evidence is coming to light suggesting that the issue of “too big to fail” in the U.S. banking industry has not been addressed to the extent warranted. Last month before the Senate Banking Committee, Federal Reserve Bank Chairman Ben Bernanke was asked about the alleged $83 billion taxpayer-funded subsidy that big banks receive annually. Just last week, officials from JP Morgan Chase admitted in testimony to withholding for months financial statements pertaining to the subsequent $6 billion in losses incurred by the now-infamous rogue trader dubbed the “London Whale...

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