Saturday, May 31, 2014

Too Big to Fail?

Fascinating graphics courtesy of Daily Kos  The four banks listed in the infographic below — CitiGroup, Bank of America, JP Morgan Chase and Wells Fargo – have received nearly $93 billion in taxpayer funds since the bailouts began in 2008. While they make up a small percentage of the 940 bailout recipients who have, to date, received $611 billion from American taxpayers, they represent a significant chunk of those funds. More importantly, their acquisition trajectories represent the consolidation of major banking institutions in America — leading them toward the distinction of “too big to fail.

And in the same article, they show that income inequality in the country has reached a level not seen since 1928. Comparing the two charts, a clear observation emerges - it is not that the government is inefficient and ineffective in dealing with the economy; it is that they have oriented themselves to serve corporate over individual interests. 

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