Obama To Banks: ‘The Rest of Us Are Not Bailing You Out Ever Again’

Start your day with TPM.
Sign up for the Morning Memo newsletter

President Obama took a shot at financial institutions the government bailed out during the great recession, saying increased paper trail requirements will help ensure we don’t have to bail them out again:

So if you’re a big bank or financial institution, you are no longer allowed to make risky bets with your customers’ deposits. You’re required to write out a “living will” that details exactly how you’ll pay the bills if you fail – because the rest of us aren’t bailing you out ever again.

Latest Livewire
1
Show Comments
Masthead Masthead
Founder & Editor-in-Chief:
Executive Editor:
Deputy Editor for News:
Deputy Editor for Audience and Strategy:
Editor-at-Large:
Contributing Editor:
Publisher:
Head of Product:
Director of Technology:
Associate Publisher & Digital Producer:
Senior Developer:
Senior Designer: