Too big to fail part 3

No, not Chris Christie, but that is true too. This post is about the too big to fail banks on Wall Street. Every time we bail them out, they are encouraged to take larger and larger risks that lead to another crisis. In Secrets of the Temple, How the Federal Reserve Runs the Country by William Grieder, author Grieder relates how a debt crisis during the Reagan recession in the early 1980s was papered over so that the banks could continue lending. Twenty-five years later during the Great Recession, it happened again. Unless we are tougher on the banks now, another crisis is certain to happen in the future. That is why I support Bernie Sanders and his promise to break up the banks that are too big to fail.

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