LTP News Sharing:
The too-big-to-fail banks, and the other banks the government favors, are backstopped against depositor loss without limit. Smaller banks are not similarly protected. The result is to draw assets to those protected banks — and to put all of us taxpayers on the hook to ensure their protection and success.
In a commentary at RealClearMarkets, Free Enterprise Project Director Scott Shepard argues that this situation makes these favored banks, in effect, public utilities — which makes the banks’ shameless discrimination against conservatives and vital American businesses obscene.
Read Scott’s entire commentary here.
As Banks Morph Into Utilities, Too Big To Fail Means Too Big for Bias
Author: The National Center