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[VIDEO] On Too Big to Fail, All the Warning Lights Are Flashing Red


“Too Big to Fail” banks played a key role in causing the last financial crisis. Since then they’ve grown even bigger, without much discouragement from the government (and in some cases with government support). Not a single executive has been prosecuted, despite their rampant lawbreaking, which means that there’s been no effective deterrent against reckless and illegal behavior.

And, with millions still unemployed and hundreds of millions still suffering the economic after-effects of the last crisis, we’re just about due for the next one.  That’s why we convened a panel at last weekend’s Netroots Nation conference entitled “Stopping the Next Depression: Ending Too Big to Fail.”  And that’s why our first question was, “What would happen if the 40 million people who live in underwater American homes went on a mortgage strike?”...