“There are three issues: the powers of the Federal Reserve, the mandate of the Federal Deposit Insurance Corporation and the vulnerability of taxpayers when one or more large complex financial institutions fail. We have at least five such companies in the United States, all of which are intensely cross-border in their operations (in order of size, JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley). The biggest and most leveraged financial companies in the United States today are all now bank-holding companies, with access to the discount window at the Fed, via their commercial banking subsidiaries.”
http://economix.blogs.nytimes.com/2013/08/01/sadly-too-big-to-fail-is-not-over/?emc=eta1&_r=1
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
What Happens When You Can't Believe A Thing The President Says?
Paul Craig Roberts: The Money Changers Serenade - A New Plot Hatches
Why I Bought One Bitcoin
Americans – Like Nazi Germans – Don’t Notice that All of Our Rights Are Slipping Away
Paul Rosenberg: 'Production Versus Plunder', Part 5
Shares in Incorporated Co-op Cities Might Be the Next Big Thing
Ten Reasons the U.S. Is No Longer the Land of the Free
"The Biggest Growth Opportunity in the History of Capitalism"
Is The Safety Of The State Really Worth More Than The Truth?
Don’t Be Fooled, ObamaCare Will Drive Up Unemployment and Healthcare Costs
Bitcoin, Encryption, Drug Use, and the FBI's Own Bitcoin Wallet
John Hussman: Over-Adaptation and Market Drawdowns
“Cruel and Unusual” Is the Only Way to Describe It
Paul Rosenberg: 'Production Versus Plunder', Part 6
David Galland: I'm from the Government, I'm Here to Bend You Over