NY Fed Study: 'Too Big To Fail Banks' Profit on Taxpayers' Backs | Common Dreams
"Although not news to progressive critics of Wall Street, the Federal Reserve Bank of New York revealed research Tuesday that underscores why "too-big-to-fail" banks are bad for the economy.
A study focusing on the five largest banks—JPMorgan Chase, Citigroup, Bank of America, Wells Fargo and Goldman Sachs—found that these firms benefit from significant discounts on bond issues due to an assumption on the part of investors of government bailout protection."
