Are We Heading Toward Another Financial Bailout?
As shown by Bank of America, some financial institutions are still “too big to fail” — the same issue that led to the massive banking bailout. Simon Johnson writes in his column, “Bank Of America Is Too Much Of A Behemoth To Fail”:
The Obama administration says the Dodd-Frank financial reform law ends “too big to fail,” meaning that no financial institution will ever again need to be bailed out. The promise is alluring, but it’s already proving to be false.