keep up… baker departed and I did it once on a ghost.
Former TARP watchdog: 'No question' that banks will need another bailout
A key figure in the financial crisis is not convinced that the U.S. government has fixed its “too big to fail” problem.
Neil Barofsky oversaw the $700 billion Troubled Asset Relief Program and expressed concern over efforts in Washington to roll back capital requirements on the largest banks.
“If we have another crisis, there’s no question in my mind that we have to bail them out again,” said Barofsky, now a lawyer at Jenner & Block.
Barofsky told Yahoo Finance that the largest banks have only gotten larger and more interconnected than they were before the crisis. In 2007, JPMorgan Chase (JPM), Citigroup (C), and Bank of America (BAC) held a total of $5.46 trillion in total assets. In 2019, those same three banks now hold $6.89 trillion.
All three banks took money from the TARP program and ultimately repaid the government.
Barofsky said if another crisis strikes, the sheer size of these banks — in addition to regulatory rollbacks on capital requirements — would inevitably force the government into another bailout.
“When you’re looking at the precipice of potentially another Great Depression, who’s going to roll that dice and allow one of these institutions to fail and risk the domino effect we saw when Lehman [Brothers] went? When AIG started to go?”
‘Huge historical mistake’
Barofsky said the best protection against a crisis — and by extension, another monumental bailout program — is forcing the banks to hold more capital. Bank regulators have a variety of ways to measure bank capital, but more broadly “capital” refers to the non-liability assets that a bank can rely on to absorb losses (i.e. cash, retained earnings).
After the financial crisis, Congress passed the Dodd-Frank financial regulatory framework that imposed stringent capital requirements on the banking industry.
https://finance.yahoo.com/news/neil-barofsky-tarp-bank-bailout-130608798.html
believe what ya want anon. baker departed and it was collected and posted to current. how it works.
BOOM!
confirm… just wish they were bigger. had issues with comp and location when those were taken originally
learn to separate the product from the people producing it. easier to do with music.
and you have how many?
chek'em good