New Public Citizen Book Shows That Banks Are Still Too Big to Fail, Jail, Manage and Regulate

Today, Public Citizen released a new book (PDF), “Too Big: The Mega-Banks Are Too Big to Fail, Too Big to Jail, and Too Big to Manage,” written by Bartlett Naylor, financial policy advocate for Public Citizen’s Congress Watch division. The book argues that financial institutions are still too big to fail, too big to jail, too big to manage and too big to regulate. The book offers a blueprint for reform that calls for setting capital requirements at 20 percent, vigorously enforcing the Volcker Rule, reinstating Glass-Steagall and breaking apart systemically important financial institutions.

The book was released this morning at an event held at the National Press Club in Washington, D.C. Speakers at the event included U.S. Sen. Jeff Merkley (D-Ore.), former U.S. Rep. Brad Miller of North Carolina, Professor Rena Steinzor of the University of Maryland, Professor Simon Johnson of MIT’s Sloan School of Management and Marcus Stanley of Americans for Financial Reform. Merkley and Miller played key roles in passing major financial reform legislation. The other speakers have written extensively about banking regulation and enforcement.

Naylor is available for interviews. Please contact the individuals listed above.

Download the book (PDF).

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