Generally when you gamble, you put your own money at risk. And if you lose, you pay up.
But when it comes to our nation’s largest financial institutions, it works a little differently -- they gamble with other people’s money (and the stability of the American economy), and if they lose, they expect the government to cover them.
It’s a principle we’ve all come to know as Too Big To Fail (TBTF). And even though TBTF institutions nearly toppled the American economy in 2008, they’ve continued to grow.
To me, this is simple -- Too Big To Fail is justtoo big. That’s why I’m joining with former Wisconsin Senator Russ Feingold and his organization, Progressives United, to build momentum for placing sensible limits on Wall Street mega-banks and protect American taxpayers. Click here to join us in the fight to end Too Big To Fail policies today.
Over the last 15 years, the assets of the largest U.S. banks have grown and grown.
And thanks to the size and complex activities undertaken by these institutions, not only are they too big to fail, they’re too big to manage -- and even the best managed firms are fraught with risk.
These banks have already borrowed billions from the Federal Reserve, and received tens of billions in TARP funds from the federal government.
We need to make sure that taxpayers will never again be held responsible for risks taken by America’s largest gamblers -- Wall Street mega-banks.
Senator Feingold and I are reaching out to our online networks to try and win this fight. Placing appropriate size and leverage limits on ‘too big to fail’ institutions, and preventing any future taxpayer bailouts is a critical national priority. Click here to join us today.
We cannot allow the American economy to ever be at risk because of the size of Wall Street banks. Too Big To Fail is just too big.
We want to make sure what happened in 2008 never happens again. Senator Feingold and I hope you’llsign on and join us today.
"If history is violence and sex, I'd rather not pay my respects. If I've caused offense, I'm just trying to talk sense. Forgive me if I'm too direct or politically incorrect."