"The Federal Reserve and the Federal Deposit Insurance Corporation, in long letters sent to the banks this week, pointed to the dangers created by the global reach and complexity of the largest banks, which are bigger now than before the 2008 crisis, and said that five of the nation’s eight largest banks — including JPMorgan Chase and Bank of America — did not have “credible” plans for how they would wind themselves down in a crisis without sowing panic.That suggests that the government would need to prop up them up if it wanted to avoid financial chaos.The announcement coincides with a presidential campaign that at times has been dominated by a debate over what danger the big banks still pose to the nation’s economic security. Senator Sanders has called for the biggest banks to be broken up, a stand that his opponent, Hillary Clinton, has criticized."
At www.nytimes.com
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