Tuesday, March 19, 2013

Big Banks have Big Problems

This article is about how the some of the largest banks in the country might not have as much backing from politicians as they used to. It goes on too state a few large banks including JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and a couple others in the recent elections all lobbied dollars to what turned out to be the losing sides. At the moment they are still receiving taxpayers subsidies but will these government officials they decided to go against give them as much help as they've needed in the past?

http://economix.blogs.nytimes.com/2013/03/14/big-banks-have-a-big-problem/?ref=economy

1 comment:

  1. The banks which are known to be the largest in the US are confronting a substantially political problem. The idea is that too-big-to-fail companies aren't beneficial to the financial sector whatsoever. This might have the effect of creating a complicated situation because the fall in household income due to the unemployment caused by the recession has already been a major cause of lost tax revenues for some states, giving California and Florida as examples, so it is likely that the support from the government may not last as long as expected, because their goal is to maximize tax revenue.

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