“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:
The Fed Doesn't Control as Much as You Think It Does
The Truth About SwedenCare
Our American Dream Has Become The World's Nightmare.
A Shoe Tariff With a Big Footprint
Uncovering License Plate Scanners: The Next Big Thing in Government Tracking
Anti-gun cities, where the rich pay for protection while the poor pay with their lives
Bill Bonner: Too Much of a Good Thing
The $4 Trillion Money Printing Press
Elysium: The Technological Side of the American Police State
The World’s Greatest Investor is Dead Wrong
The Secret History of G.I. Joe
The Never-Ending Story of Government Cost Overruns
Three major fault lines in Syria! Will they explode?
Why Oil Could Move Higher--Much Higher
Jimmy Carter: U.S. Has ‘A Cruel and Unusual Record’