Banks Still Too Big To Jail

Elizabeth Warren is still hammering on the Obama Administration on the last 5 years of inaction since the great financial crash of 2008, nearly nothing has been accomplished in changing the structure and culture of banks in the US.  The Guardian reports:

"We have got to get back to running this country for American families, not for its largest financial institutions," said Warren, who said the issue was an indictment of how little had changed since the 2008 banking crash.  The four biggest Wall Street banks are 30% larger than before the financial crisis, she said, while the five biggest institutions hold more than half the bank assets in the country.
Warren claimed this amounted to an $83bn-a-year taxpayer subsidy for some Wall Street institutions, because they were so large that they could safely rely on a government bailout in the event of a future crisis, and were therefore able to take bigger risks than rivals. She also cited research suggesting the crash had cost up to $14tn, or $120,000 for each American household.
"Three years since Dodd-Frank was passed, the biggest banks are bigger than ever, the risks to the system have grown and the market distortions continue."
She said current regulators do not give "much reason for confidence" and added: "It is time to act: the last thing we should do is wait for another crisis."