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Monday, September 9, 2013

U.S. Sen. Elizabeth Warren talks up organized labor, calls Supreme Court 'pro-corporate' at AFL-CIO convention | masslive.com

U.S. Sen. Elizabeth Warren talks up organized labor, calls Supreme Court 'pro-corporate' at AFL-CIO convention | masslive.com:

""Five years ago, experts said the banks had to be bailed out because there was too much concentration in banking and one failure would bring down the entire economy. Now the four biggest banks are 30% larger than they were five years ago. The five largest banks now hold more than half of all banking assets in the country. Because investors know they are too big to fail, those big banks get cheaper borrowing, which, according to one study, adds up to an annual $83 billion subsidy from taxpayers—another benefit of being Too Big to Fail," Warren said."