Image by DonkeyHotey via Flickr
Updated: July 12, 2020
by Rainer Shea
Writer, Dandelion Salad
Rainer Shea: Anti-Imperialist Journalist, June 30, 2020
July 1, 2020
Matt Taibbi concluded that the 2008 Wall Street bailout had “built a banking system that discriminates against community banks, makes Too Big to Fail banks even Too Bigger to Failier, increases risk, discourages sound business lending and punishes savings by making it even easier and more profitable to chase high-yield investments than to compete for small depositors.” In this post-crash environment, the largest financial institutions gained more of a hegemonic grip than ever, with the five biggest banks having come to own almost half the industry by 2015.
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