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    Back to To the Point

    To the Point

    Are America's Banks Still Too Big to Fail?

    Banks that got taxpayer bailouts paid back with interest, but financial authorities are warning it could happen again. Just five banks -- Goldman Sachs, JP Morgan Chase, Citigroup, Wells Fargo and Bank of America —now hold $8.5 trillion in assets. That's equal to 56 percent of the US economy, up from 43 percent six years ago.

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    By Warren Olney • May 12, 2014 • 1 min read

    Banks that got taxpayer bailouts paid back with interest, but financial authorities are warning it could happen again. Just five banks -- Goldman Sachs, JP Morgan Chase, Citigroup, Wells Fargo and Bank of America —now hold $8.5 trillion in assets. That's equal to 56 percent of the US economy, up from 43 percent six years ago. It's happened despite President Obama's call to "prevent the further consolidation of our financial system." Regulators are way behind in implementing new rules. Are the life-savings of depositors adequately insured? If a bank with $2 trillion takes too many risks will taxpayers have to be called on? What's the state of public opinion on two unpopular institutions: banks and the federal government? What about Obama's promise that banks would never again be "too big to fail?"

    • https://images.ctfassets.net/2658fe8gbo8o/AvYox6VuEgcxpd20Xo9d3/769bca4fbf97bf022190f4813812c1e2/new-default.jpg?h=250

      Warren Olney

      former KCRW broadcaster

    • KCRW placeholder

      Christian Bordal

      Managing Producer, Greater LA

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      Anna Scott

      Former KCRW Housing and Homelessness Reporter

    • KCRW placeholder

      Andrea Brody

      Senior Producer, KCRW's Life Examined and To the Point podcast

    • KCRW placeholder

      David J. Lynch

      Bloomberg News

    • KCRW placeholder

      Jared Bernstein

      Center on Budget and Policy Priorities

    • KCRW placeholder

      Carroll Doherty

      Pew Research Center for the People and the Press

      NewsNationalPolitics
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