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April 16, 2012

Banks Seen Dangerous Defying Obama’s Too-Big-to-Fail Move

“Two years after President Barack Obama vowed to eliminate the danger of financial institutions becoming “too big to fail,” the nation’s largest banks are bigger than they were before the nation’s credit markets seized up and required unprecedented bailouts by the government.”

“’Two or three years from now, Goldman Sachs should be like MF Global,’ said Dennis Kelleher, president of the nonprofit group Better Markets, who doubts the government would allow a company such as Goldman to repeat MF Global Holdings Ltd.’s Oct. 31 collapse.”

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Read full Bloomberg article here.

 
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