Fed Official Offers a Way to Eliminate Mega Banks by requiring Too Big Too Fail Banks to have more capital than smaller ones and reverse their advantage. Neal Kashkari is right to say, "nation’s current political anger and polarization to how the government responded to the financial crisis — which allowed large banks to survive while thousands of Americans struggled to keep their homes and find new jobs.
“The bailouts violated a core belief that has been handed down from generation to generation in our society that if you take a risk you bear the rewards and consequences of that risk,” he said. “We had to tear that up during the crisis because the biggest banks were going to fail and bring down the U.S. economy. And when you violate the core beliefs of society it does lead to anger and a feeling that this wasn’t fair.”
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