Not exact matches
Tarullo has said he favors the sliding
scale version of the surcharge that would rise according to the «expected impact» of a bank's
failure on the
financial system.
Failure to proceed with a joint reform has led the banking and
financial sector — along with its major client base, the real estate sector — to
scale back property taxes and «free» the economy with taxes so that the revenue can be pledged to the banks as interest to carry larger loans.
The U.K.'s
Financial Conduct Authority (FCA) detailed a wide
scale breakdown of management
failures and risk controls and stated that JPMorgan's front office was actually «involved in the misconduct.»
There could even be a minor bear market in housing, a few bank
failures, and some tapping of the FDIC, although not to the
scale of the
financial crisis.
My reading of the episode is that the extraordinary
financial events of September and October 2008 — several large
financial failures, large -
scale rescues of major institutions, enough incipient systemic concerns about banking systems to lead governments to issue guarantees, investor panic on share markets — were all observed in real time by households and businesses right around the world.