Sunday, February 24, 2013

The Great American Taxpayer Robbery. (VIDEO)

Beacuse large criminal banks will always be bailed out by US taxpayers, these banks have a better credit rating than small banks. 

Big banks commit crimes, don't go to jail, go bankrupt and the American taxpayer bails them out.

"On television, in interviews and in meetings with investors, executives of the biggest U.S. banks -- notably JPMorgan Chase & Co. Chief Executive Jamie Dimon -- make the case that size is a competitive advantage. It helps them lower costs and vie for customers on an international scale. Limiting it, they warn, would impair profitability and weaken the country's position in global finance."*

What does "too big to fail" mean in borrowing and subsidies? Do banks get an unfair advantage being labeled as "safe" borrowers because they'll be bailed out? Is it odd that the amount of taxpayer subsidies that go to banks equals the same amount as their profit? Cenk Uygur discusses this broken system.

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