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View Diary: What's Happenin'? ☮ ♥ ☺9.30.13 (50 comments)

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  •  Good mornin' good People (9+ / 0-)
    The drum beat to break up the biggest banks is about to get louder.

    That's because the first of a two-part much-anticipated Government Accountability Office report on too-big-to-fail banks is expected to be released in a few weeks.
    The first study, which is expected to be released in late October, will attempt to calculate all the benefits big banks received from the Federal Reserve System and Treasury Department programs during the 2008 financial crisis and how regulations have changed government support for banks.
    Other lawmakers — beyond Brown and Vitter — on the Senate Banking Committee told The Deal they are eagerly awaiting the results.

    Sen. Bob Corker, R-Tenn., said he wants to see if there are subsidies being given to larger financial institutions that "are not that transparent" or obvious.

    "There should be no subsidies," Sen. Joe Manchin, D-W.Va., said. "I'm interested in seeing the GAO study. Why are big banks doing so well while the rest of the country is not looking very good?"

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