May 21, 2015

Robert Reich: 10 Ideas to Save the Economy #4: Bust Up Wall Street | Alternet

Robert Reich: 10 Ideas to Save the Economy #4: Bust Up Wall Street | Alternet

"When the Wall Street bubble burst in 2008 because of excessive risk-taking, millions of working Americans lost their jobs, health insurance, savings, and homes.

But The Street is back to many of its old tricks. And its lobbyists are busily rolling back the Dodd-Frank Act, intended to prevent another crash.

The biggest Wall Street banks are also much larger. In 1990, the five biggest banks had 10 percent of all of the nation's banking assets. Now, they have 44 percent - more than they had at the time of the 2008 crash."