MORE FROM HUFFPOST
MORE FROM HUFFPOST
too big to fail
Even if corporations are improperly designated too big to fail or be prosecuted, that is no excuse for not prosecuting those directly responsible for their crimes. They are protected and rewarded for their criminal acts. Nobody is that big!
Viewed in isolation, the fall of the EU in Britain and the rise of Donald Trump in the U.S. both reflect high-risk gambles by disillusioned voters to upend the establishment they blame for economic and cultural turmoil.
Does the question of morality have a place in the realm of banking and regulation? That it feels awkward to even raise the issue is convenient for bankers who engage in reckless and harmful activities every day without fear of punishment.
WHAT'S HAPPENING
WHAT'S HAPPENING
Bernie says the banks are too powerful so we need to break them up and reinstitute Glass-Steagall, the depression era legislation that separates high-risk investment banking from staid commercial banking.
In a TMFS sketch, the lack of credible living wills for too-big-to-fail banks, including Bank Of America, Goldman Sachs, Morgan Stanley, JP Morgan Chase, is defended by a hedge fund executive.
Despite financial reforms, Wall Street behemoths remain big enough to jeopardize the economy if they fail, regulators said.
