Citing the “slap on the wrist” culture at the U.S. Federal
Reserve and the Securities and Exchange Commission (SEC), U.S. Senator
Elizabeth Warren called on Congress in April 2015 to break up the big banks
such as Bank of America, Citigroup, JPMorgan Chase, and Goldman Sachs.[1]
She coupled the ‘break-up” approach to reducing the systemic risk with limiting
the Fed’s ability to bailout individual banks. The synergy in Warren’s approach
is worthy of further analysis.
The
full essay is at "Breaking Up the Biggest Banks."
1. Reuters, “Elizabeth
Warren Calls on Congress to Break Up the Big Banks, Change Tax Rules,” The
Huffington Post, April 15, 2015.
