hay in a crisis

James Kwak at Baseline Scenario:

Probably most of you have already read David Cho’s Washington Post article on how the Big Four banks

  1. have gotten bigger through the crisis,
  2. have increased market share (now one of every two mortgages and about two of every three credit cards),
  3. are using their market clout to increase fees (while small banks are lowering fees), and
  4. enjoy lower funding costs because of the nearly-explicit government guarantee.

That said, I’m glad that Geithner says that undoing this situation is “the dominant public policy imperative motivating reform”.