Big Banks Required To Be A Little More Responsible


A Small Step

 Read this:  This Mother Jones article, by Kevin Drum, explains some good news on the financial front, particularly regarding the big banks.  Basically, “the Fed has finally announced new capital requirements for large, systemically important banks that could devastate the financial system if they failed.”  Don’t get too excited because it is very modest and definitely not enough.  It will be fought every step of the way.  Additionally, if we look the other way for too long, members of congress will be creating shadowy ways to undue anything they can.  These modest changes simply require the big banks to “increase capital requirements” relative to the risks it is taking.  “It also applies only to ordinary banks, not to the shadow banking sector—which, in retrospect, appears to have been at least as big a contributor to the financial collapse as conventional banks.”





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