At a U.S.
Senate hearing on a GAO report on the costs of expectations of government
support for banks should they go under, “discussion went far beyond the report
and delved into the current state of banking, the limits of the Dodd-Frank Act
and what should be done about banks that are simply too big to manage,”
according to The New York Times.[1]
Six years after the massive credit freeze, a major question hinged on whether
some financial institutions were still too large, complex, and interconnected
to be liquidated in an orderly and containable manner should they head under
water.
The full essay is at "Wall Street Subsidies."
1. This
and all quotes in this essay are from Gretchen Morgenson, “Big Banks Still a Risk,” The
New York Times, August 3, 2014.
