“Too Big To Fail” (TBTF) is the standard for socialized risk and privatized profits. The biggest banks enjoy an implied bailout under Dodd-Frank regulations that give them a tremendous advantage over smaller banks. The complex weave of financial innovations that are their signature is impossible for anyone to understand, making the risk we have taken on as taxpayers almost impossible to quantify.
What can be done about it? Try TBTF – the “Terminating Bailouts for Taxpayer Fairness” Act of 2013.
This legislation, introduced by Sherrod Brown, an Ohio Democrat, and David Vitter, a Louisiana Republican, cuts through the complexity, levels the playing field among banks, and ends “Too Big To Fail” once and for all. What chance does it have? Actually, a very good one because of some terrific politics.
Barataria - The work of Erik Hare 