Too Big to Fail

We live in an increasingly interconnected global economic community. No nation in the modern world truly stands alone, and the acts of some nations are particularly influential and impactful. The United States is an especially important country in the contemporary world, and the U.S. economy is the dominant economy. That is why some have attributed the global financial crisis of 2008 to substantially sized U.S. financial institutions.

The United States has taken action to prevent the reoccurrence of serious global financial tumult. The Dodd-Frank Wall Street Reform and Consumer Protection Act was passed in 2010. Martin Gruenberg, Chairman of the Federal Deposit Insurance Corporation (FDIC), pledged in 2016 that the FDIC and the Federal Reserve were committed to guaranteeing that significant U.S. financial institutions had procedures ...