JPMorgan's Growing Size Raises Concerns.

1 min read
Source: CNN
JPMorgan's Growing Size Raises Concerns.
Photo: CNN
TL;DR Summary

JPMorgan's acquisition of First Republic Bank has raised concerns from Democratic Senator Elizabeth Warren about the "Too Big to Fail" problem. Warren argues that the federal government has helped JPMorgan get even bigger, which could put American taxpayers on the line if the bank stumbles. Warren believes a different bank should have been allowed to buy First Republic to maintain a more diversified banking system. JPMorgan CEO Jamie Dimon hopes the takeover eases stress in the banking system. Warren is calling for accountability of bank executives and regulators and has co-sponsored a bill to empower the FDIC to claw back executive compensation at failing banks.

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