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Sen. Elizabeth Warren Gets Ben Bernanke to Admit Government Still Helps Big Banks Be Too Big to Fail
- Published_at:2013-02-27
- Category:News & Politics
- Channel:neal rodriguez
- tags:
- description: Yesterday, during a Senate Banking Committee hearing Senator Elizabeth Warren got the Chairman of the Federal Reserve, Ben Bernanke, to agree that in the process of getting rid of Too Big to Fail, Big Banks continue to be beneficiaries of a federal subsidy that makes them more likely to get bailed out by the federal government. Economists at the IMF found the federal subsidy to be as high as $83 billion. It allows big banks to take out loans at cheaper rates than smaller banks. This helps Big Banks acquire more customers; thus making them bigger and more likely recipients of a federal bailout to avert collapse of the financial system. To see Senator Warren's complete interview of Mr. Bernanke: http://www.youtube.com/watch?v=SYP4NVdWVPI
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