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Dallas Fed: Top 5 Wall Street Banks Own More Than 50% Of US GDP
Posted By kurtnimmo On March 25, 2012 @ 8:00 am In Economic Crisis,Tile | Comments Disabled
March 25, 2012
The Dallas Federal Reserve blasts too big to fail as a perversion of capitalism, outlining how Wall Street bailouts resulted in an unprecedented concentration of wealth.
The Dallas Federal Reserve has just released its damaging annual report titled “Choosing the Road to Prosperity – Why We Must End Too Big to Fail—Now” which reads much like a manifesto of the Occupy Wall Street movement.
The report holds no punches in pointing out the concentration of wealth that has been amassed in nation’s top Wall Street Banks following the bank bailouts and directly calls out too big to fail as a perversion of capitalism.
If it wasn’t for the pro-federal reserve talking points in the annual report, you could replace the title on the report with “Why We Occupy” and use it as a handout for the Occupy movement.
In any case, the Dallas Federal Reserve’s annual report hammers home the case of why the “Too Big To Fail” Wall Street banks need to be broken up to restore a more balanced approach to economic equality in the United States.
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