BUSINESS
Another Bank Bailout Under Cover of a Virus
BUSINESS

Another Bank Bailout Under Cover of a Virus

Published: May 18, 2020  |  9 min read, 1747 words
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Published on byInsolvent Wall Street banks have been quietly bailed out again. Banks made risk-free by the government should be public utilities.  The American people are therefore entitled to share in the benefits and the profits. Banking needs to be made a public utility. (Photo: Twitter/)When the Dodd Frank Act was passed in 2010, President Obama triumphantly declared, “No more bailouts!” But what the Act actually said was that the next time the banks failed, they would be subject to “bail ins”—the funds of their creditors, including their large depositors, would be tapped to cover their... READ MORE
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