Editorial Board
Too-Big-to-Fail Is Still Too Dangerous
A new GAO report will lead some to conclude that the too-big-to-fail problem has been solved. If only.
The Government Accountability Office has issued a long-awaited study on the hidden subsidies that large U.S. financial institutions enjoy. Many will read it as evidence that the Dodd-Frank Act has ended the threat that big banks pose to taxpayers and the economy.
That conclusion would be unduly optimistic.