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Big Banks Still Counting on Government Bailout

Livinglies's Weblog

This is the second time they failed and regulators are justifiably worried.

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THE FOLLOWING ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.

The 5 Major Banks once again failed both stress tests and the “living will” provisions of the Dodd/Frank Act. This means they have no viable plan to break themselves up in the event their assets need to be sold off. This is the second time they failed and regulators are justifiably worried. It also means that if they do fail again — and given the valuation of MBS as assets this is a likely outcome — the taxpayers would once again be called upon to float these monster banks while everyone else is left paying the bill.

There…

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