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HomeWall St ‘Living Wills’ & ‘TBTF’?? Watch Your Wallets, Folks!!
Posted by Larry Doyle on August 7th, 2014 9:21 AM |
Little surprise this week that the Federal Reserve and FDIC have assigned failing grades to Wall Street’s ‘too big to fail’ banks assigned to writing ‘living wills.’
As a frame of reference, these ‘living wills’ are required by the Dodd-Frank legislation intended to reform Wall Street and prevent the need for another government bailout of our ‘too big to fail’ banks.
Really? Well, in theory anyways.
Why is it that our ‘too big to fail’ banks cannot write ‘living wills’? (more…)
Wall St ‘Too Big to Fail’ Subsidy: You Pay, They Play
Posted by Larry Doyle on March 27th, 2014 9:19 AM |
In the midst of your morning routine, you can probably lay out a number of situations in which you reach into your pocket to pay people or vendors for services/products provided. I would imagine that many reading this blog pay for a daily coffee and newspaper, perhaps a periodic shoe shine, a highway toll, or train and bus fare.
In addition to these fees, how do you feel about reaching into your pocket on a daily basis to pay a surcharge to support banking institutions on Wall Street that are deemed ‘too big to fail?’ How does that feel? Not very good, does it? I did not think so.
Yet, make no mistake, that daily banking toll you pay, and the subsidy the banks receive, are very much a reality in America circa 2014. (more…)
