Big Banks Still Pose Threat--Both Parties Are Asleep

Big Banks Still Pose Threat--Both Parties Are Asleep
AP Photo/Carolyn Kaster, File

Ten years after the financial crisis and Great Recession, it is now clear that the 2008 bailouts worked too well — for Wall Street, that is. The Dow Jones industrial average is far above its pre-recession highs. Bank earnings and share prices are setting records. The financial crisis is now just a fading memory. In hindsight, it wasn’t that bad, was it? When asked if we are likely to face another crisis in the near term, Microsoft co-founder Bill Gates recently answered: “Yes . . . Fortunately we got through [the last] one reasonably well.”

 

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