The Phaserl


6 Financial Monsters That Have Only Gotten Bigger After Destroying the Economy

by Alex Henderson,

Before the crash of September 2008—the worst economic downturn in the United States since the 1929 crash that marked the beginning of the Great Depression—most Americans had never heard the term “too big to fail.” But that term became all too familiar when hundreds of billions of dollars were set aside to bail out the nation’s largest financial institutions. And many of the mega-banks that caused the panic of 2008 have become even larger.

In November, Democratic Sen. Elizabeth Warren of Massachusetts warned that “the four biggest banks are 30% larger than they were five years ago” (JPMorgan Chase, Bank of America, Citigroup and Wells Fargo).

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