GAO Says Biggest Banks Benefited Most From Bailout

Law360, New York (November 14, 2013, 6:14 PM EST) -- A Thursday government watchdog report finding that the largest banks benefited most from the federal government's efforts to support the financial system in 2008 highlighted the need for more curbs to end the problem of too-big-to-fail banks, lawmakers pushing stricter capital standards said.

The Government Accountability Office found that the biggest banks relied more heavily on the government's bailout programs during the financial crisis than their smaller competitors did.

“Together these actions helped to stabilize financial conditions, while participating firms also accrued benefits specific to their...
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