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Home Publications Blogs Beat the Press Simon Johnson's Latest on Bernanke and Too Big to Fail

Simon Johnson's Latest on Bernanke and Too Big to Fail

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Friday, 01 March 2013 05:23

This is worth reading (that's true of almost all of Johnson's posts). It highlights growing recognition of the too big to fail subsidy enjoyed by large banks and evidence of bipartisan efforts to end it. Just to remind folks that may have forgotten, a bloated financial sector is a drain on the economy in the same way as that huge government department of waste, fraud, and abuse that everyone in Washington is looking for. It also is a source of instability and a major generator of inequality. And, by the way, when it comes to estimating the size of big bank subsidies, CEPR got there first.

Comments (3)Add Comment
Crusader
written by James, March 01, 2013 10:03
Please keep up the crusade; there is a huge difference between the waster in financial sector and so-called in gov't: In financial sector, there is the American Bankers Association and many other lobby grps defending those waste.
WS Bank Subsidies
written by NWsteve, March 02, 2013 12:18
Dr. Baker:
thank you for providing CEPR's continuing efforts to widen and level the playing field,
as much, much work remains.
...
written by Chris Engel, March 02, 2013 11:17
Looks like the subsidy has grown from CEPR's high-estimates...Warren was citing a figure up in $85 billion area, almost 3x the CEPR high estimate.

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.

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