“The 2010 Dodd-Frank Act, intended to reform banks, hasn’t eliminated the issue of “too big to fail,” says former FDIC Chairman Bill Isaac, now a senior managing director at FTI Consulting.
Banks’ inordinate size represented one of the biggest problems surrounding the recent financial crisis, experts agree.
“The Dodd-Frank Financial Reform Act purported to fix too big to fail, but it really didn’t,” Isaac tells Newsmax TV in an exclusive interview. “There are five or six banks in this country that control over half the banking assets, and they are as a practical matter just too big and too important to the economy to be allowed to fail.” ”
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