The Great American Economy by Steve Slavin

Author:Steve Slavin
Language: eng
Format: epub
ISBN: 9781633883062
Publisher: Prometheus Books
Published: 2017-07-14T04:00:00+00:00

A somewhat less draconian measure would be to place a tax of, say, 1 percent on a bank's assets of over $500 billion. Obviously, the effectiveness of this tax in curbing the size of large banks would depend on how high it was.

Former Federal Reserve chairman Paul Volcker would create a firewall between risky trading operations and government-insured savings that funds commercial lending. Although this so-called “Volcker Rule” was a stated goal of Dodd-Frank, the financial industry has managed to render this rule largely toothless.

Take no action until it appears that a bank may fail; at that point, the government would bail out the bank.

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