Banks Brag About SIFI Status
"We have actually created a category of systemically important institutions, and these banks go around bragging about it," he said. "You know what they say to people with a wink and a nod? We are so big, we are so important that if we get in trouble, the government has to bail us out. This is an outrage."
This claim is demonstrably false, however. Regional and mid-sized banks are pressing Congress to raise the threshold at which they are considered systemically important and the big banks are doing their level best to convince the public and policymakers that they are no longer "too big to fail."