Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
The Great American Taxpayer Robbery
Posted
February 24, 2013
Views
29,426
Likes
1,018
Comments
187
Engagement
4.10%
February 24, 2013
29,426
1,018
187
4.10%
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5:12Now Playing"On television, in interviews and in meetings with investors, executives of the biggest U.S. banks -- notably JPMorgan Chase & Co. Chief Executive Jamie Dimon -- make the case that size is a competitive advantage. It helps them lower costs and vie for customers on an international scale. Limiting it, they warn, would impair profitability and weaken the country's position in global finance."*
What does "too big to fail" mean in borrowing and subsidies? Do banks get an unfair advantage being labeled as "safe" borrowers because they'll be bailed out? Is it odd that the amount of taxpayer subsidies that go to banks equals the same amount as their profit? Cenk Uygur discusses this broken system.
*Read more from Bloomberg:
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