Why Should Taxpayers Give Big Banks $83 Billion a Year?

By Bloomberg, Bloomberg - February 23, 2013

On television, in interviews and inmeetings with investors, executives of the biggest U.S. banks --notably JPMorgan Chase & Co. Chief Executive Jamie Dimon -- makethe case that size is a competitive advantage. It helps themlower costs and vie for customers on an international scale.Limiting it, they warn, would impair profitability and weakenthe country's position in global finance.

So what if we told you that, by our calculations, thelargest U.S. banks aren't really profitable at all? What if thebillions of dollars they allegedly earn for their shareholderswere almost entirely a gift from U.S. taxpayers?

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