The six most dangerous government-sponsored enterprises

posted by
January 11, 2011
Our Future
by Robert Borosage  
Posted in Commentary, PND Commentary

"Simon Johnson, the former chief economist of the International Monetary Fund, is a principled conservative who understands how financial oligopolies can loot a nation. .... he summarizes the stark and terrifying reality of where we are .... Today’s most dangerous government sponsored enterprises are the largest six bank holding companies: JP Morgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley. They are undoubtedly too big to fail .... The market knows this and, as a result, these large institutions can borrow more cheaply than their smaller competitors. This lets them stay big and -- amazingly -- get bigger." (01/11/11)  

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