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10 May, 2013

7 Financial Facts That Will Blow Your Mind | Alternet

Big banks are getting even bigger. As Bloomberg reports, the biggest U.S. banks have gotten even bigger since their risky and criminal behavior helped spark the financial crisis. The number of too-big-to-fail banks is projected to increase by 40 percent over the next 15 years. And consider this: When big banks get help from you and me, they behave worse. According to USA Today, banks that received federal assistance during the financial crisis “reduced lending more aggressively and gave bigger pay raises to employees than institutions that didn’t get aid.” Megabanks are undermining democracy, subverting the rule of law, rigging the world’s largest markets, and doing untold damage to the economy.

Read the rest: 7 Financial Facts That Will Blow Your Mind | Alternet.