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Dennis Kelleher, president and CEO of Better
Markets Inc., explains why the too-big-to-fail banks aren’t really banks
anymore, but trading houses willing to take bigger and bigger risks,
despite the financial collapse of 2008.
“Between 2003 and 2011, the bonuses on Wall Street were over $200
billion. $200 billion — that’s what’s at stake here for them,” Kelleher
says. “On the other hand, because it’s high-risk, because they’re
ultimately backed by the taxpayers of the United States. It has cost the
United States no less than $12.8 trillion.”
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