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January 11, 2013

Republicans join liberal view of megabanks

America’s liberals have long demanded that the largest US financial groups be forcibly broken up following the financial crisis. Now, an increasing number of influential conservatives are joining their cause.


Republican lawmakers on Capitol Hill have introduced legislation and written letters urging government officials to study the allegedly harmful effects on financial stability and economic growth posed by “megabanks”.

Leading Republican commentators have called for the restructuring of big financial institutions and had even urged Mitt Romney to make the pledge part of his election campaign last year when he ran as the Republican presidential candidate.
Read full Financial Times article here
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