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.

Lehmans

Area Agency on Aging 10B, Inc.

Knight Foundation


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


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

FitzGerald isn't giving up, but many Stark voters are worried, wary and weary
SB5 stands for "Snow Ball 5" because voters have about a snow ball's chance of remembering what it was.

Columbus groups are trying to pass a Bill of Rights to combat fracking
Its about time we make a stand against the criminal actions of an entire Indsutry.

Crystal Ball says Ohio governor's race is done
How much is the Kasich campaign paying you to keep repeating the phrase "woman who is not his wife"? Fitzgerald was in the car with a friend who happens to be f...

Plane that crashed killing Case students is a popular training aircraft
The following is incorrect. The last few words should read "UNDER maximum gross take-off weight." “They have a normal take-off speed and all those take-off...

Exploradio: The never-ending war against superbugs
Super Federico ,we are so proud of you ,and very lucky to be among your friends . Keep it up human kind needs people like you to survive .Thanks for being so d...

Ohio's Lyme disease-carrying tick population is exploding
Interesting report. The last sentence needs some editing. It isn't a good idea to "save garments carrying ticks for analysis." The garments carrying t...

Teach for America enters third year in Ohio
For more background on TFA, check out http://reconsideringtfa.wordpress.com/

Faith leaders hold week-long prayer vigil at Ohio Statehouse
I think this is the wrong link to the audio. Its Andy Chow about cigarette taxes.

A $30 million plan to turn Cleveland's Public Square from gray to green
The current plan is for the Land Bank, RTA, and Mr. Jeremy Paris to run a bus line through the new Public Square and cutting the park in half. Save Public Squar...

Medina County residents question safety of proposed natural gas pipeline
I'm very concerned about this nexus project. I've received mail requesting my permission to allow the company to survey my property. I don't understand how thi...

Copyright © 2014 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