News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Northeast Ohio Medical University

NOCHE

Hospice of the Western Reserve


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Government and Politics


New bill targets banks that are 'too big to fail'
Sen. Sherrod Brown wants megabanks to keep a 15 percent safety net, instead of relying on taxpayer bailouts
by WKSU's MARK URYCKI


Senior Reporter
Mark Urycki
 
Sen. Sherrod Brown and Louisiana Republican David Vitter wants large and medium-sized banks to maintain capital so they can bail themselves out. Small banks would not be restricted, and would even have some regulations eliminated
Courtesy of Mark Urycki
Download (WKSU Only)
In The Region:
Ohio's U.S. Sen. Sherrod Brown is sponsoring a bill that target banks considered “too big to fail.” The Ohio Democrat joined with Louisiana Republican David Vitter to introduce a requirement that the largest banks maintain a capital worth of 15 percent of its assets as a backstop, rather than rely on a taxpayer bailout.

Brown says the implicit support by taxpayers gives the mega-banks an unfair advantage and they are even larger now than in 2008.
“By 2009, despite the recession, the top six banks had grown from fewer than 20 percent of U.S. GDP to more than 60 percent," he said. "This growth was built on the perception that these banks aren't just backed by their investors. They're also backed by American taxpayers.

"The market knows that the government won't allow these big banks to fail, ... (so) they can make riskier investments and lend money at a lower rate than regional banks and credit unions.”

Smaller, regional banks, like Key Bank and Huntington, would have to keep 8 percent of their assets.The smallest l banks would not be restricted, and in fact would have some current regulations eliminated. 


Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

School children in Bath produce a seed-to-table garlic feast
Super article. What a great idea to educate in sustainable farming! Garlic is so healthy as well. My Grandson Sam Mathews is in grade 4, and he looks like he ...

There's no off-season for the Cleveland International Film Festival
I would like to see "The Murders of Brandywine Theater" filmed by local Larry Longstreth shown at the Cleveland International Film Festival!

Study shows raising the cigarette tax a dollar could raise $342 million
So, it takes an expert to tell us raising the tobacco tax raises the revenue for the state? Doh. By the way, any one who was going to quit smoking probably alre...

Akron's Highland Square celebrates community spirit and public art
Both Donna and her husband, Joseph are both such amazing art talents! The photos look stunning! I must get down to Angel Falls for an in-person look. I just l...

Pluto: Another off-season, another Browns quarterback conundrum
The Browns do need a draftable QB for the future. Johnny Manziel needs to go and that leaves Brian Hoyer and Connor Shaw. Free agency doesn't really have any so...

Exploradio: Improving the lives of paralyzed people
God bless you doctor. I hope to be alive the day that humans, like me, can use the results of your search...

Nature and nourishment down by the river at the Metroparks' Merwin's Wharf
I love QUICKBITES! I look forward to it every week. One question: is it possible to include a link to the restaurant or store that you profile? Thanks!

Canton's proposed Timken-McKinley school merger is drawing spirited debate
From a sports opinion Varsity would have a lot more talent to choose from So Im sure varsity sports would improve.Also Timkens name would be much more published...

Canton school board will decide whether to merge high schools
I really hope we can save those jobs, usually we try to cut budgets but the demand is still the same. Then we look bad a year or two after the descion is made. ...

FirstEnergy wants PUCO guarantees on nuclear and coal prices
Would just comment that the plant has admitted the following (as reporting in the Akron Beacon Journal): "The utility has said it may have difficulty keeping t...

Copyright © 2015 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University