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We really seem to be well past the point of worrying about big banks being too big because JP Morgan Chase bought a not insignificant sized bank for a ham sandwich. And now JP Morgan Chase becomes even bigger. We seem to accept that regulation has delivered sound banks at the top of the pyramid, the two big to fail banks. They've been identified, they're scrutinized, and then you go down a layer and there's less scrutiny. The SBB, first republic, should have had more scrutiny but there's this separate category of the highly regulated stress test ones.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode