Financial Reform, Part One: TBTF

The word has come down, “Never again!” On October 14, 2008, the US Treasury announced a plan to recapitalize the US banking system, to the tune of $250 billion, starting with the nine biggest banks who were forced to take the money, whether they wanted to or not. ┬áThe government got its (our) money back, but that’s not what matters.

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