The Big Four Banks: The Most Political Of All Creatures.
The Big Four American Banks: Wells Fargo, Citigroup, Bank of America, and JP Morgan Chase, are the beating heart of this country's financial system.
They are the primary instruments through which the Federal Reserve, and to an extent the US Treasury implements their monetary policy. And over the course of the last few financial crisis, they have become increasingly reliant on the political structure in this country to “Bail” them out if the bank should get into financial trouble themselves. We saw this most recently in the case of Citigroup which was bailed out during the Great Financial Crisis of 2008 and 09.
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