Bloomberg: The Largest U.S. Banks Aren’t Really Profitable At All

The times they are a-changin’.

This post seems to be older than 11 years—a long time on the internet. It might be outdated.

This makes me frustrated. No one should ever be “too big to fail”. That’s a poppycock soundbite to maintain the status quo. How do we, as everyday citizens, bring about actual change for things like this?

From www.bloomberg.com:

“In other words, the banks occupying the commanding heights of the U.S. financial industry — with almost $9 trillion in assets, more than half the size of the U.S. economy — would just about break even in the absence of corporate welfare. In large part, the profits they report are essentially transfers from taxpayers to their shareholders.1

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  1. Emphasis added