It’s not just about us cont.
May 5, 2010 | alternatives, federal legislation, industry | Comments (0)Community Banks are in “fear” of this bill, too. From The Atlantic:
The financial reform battle has been framed as a fight between big banks and Congress. Considering that the one of the ugliest aspects of the financial crisis was taxpayers being forced to bailout out giant financial institutions after discovering that they were so large that they couldn’t fail without taking down the rest of the economy, this interpretation would seem logical. So in order for Congress to address the problem of too big to fail, shouldn’t it be bullying the big banks, to the benefit of the smaller ones? You might think so, but there are a number of provisions in the Senate bill that worry community bankers. They fear that some aspects of financial reform will benefit the big banks and put the smaller ones out of business.
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