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Matthew Yglesias @mattyglesias

These institutions could have made the opposite case — that they were systemically significant and in need of the kind of guarantees and regulations the GSIBs get. But their leaders chose to claim to believe that liquidating then would be fine for the national economy. — PolitiTweet.org

The fact is that the US taxpayer already guarantees unlimited deposits, but only at 4 banks - JPM, BofA, Citi and W… https://t.co/rXL5dpwaic

Posted March 12, 2023

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Matthew Yglesias @mattyglesias

America’s large regional banks fought and won a ferocious years-long battle across congress and several different regulatory agencies to secure exemption from Dodd-Frank rules on risk and safety specifically by arguing there was no systemic risk to normal FDIC resolution. — PolitiTweet.org

Posted March 12, 2023

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Matthew Yglesias @mattyglesias

Is that actually true? I see reason for skepticism. But it’s also challenging to go ask for an exemption to the rules on the basis of systemic significance when you lobbied nonstop for a decade on the theory that you’re not. You maybe convinced some people. — PolitiTweet.org

Posted March 12, 2023