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Well capitalized banks are essential for a strong banking sector, financial system, and economy where Main Street families and businesses can thrive. That’s because appropriately capitalized banks are strong enough to continue providing credit through the economic cycle, in good times and bad, which keeps the economy growing, creates jobs, and reduces the depth, length, and cost of recessions that large bank failures usually cause. Remember, the only thing standing between a failing large bank, taxpayer bailouts, and an economic downturn if not catastrophe is the amount of capital that a large bank has to absorb its own losses.
If large banks do not have enough capital to absorb their own losses and prevent their failure (i.e., if they are undercapitalized), then taxpayers end up providing that capital after the fact in the form of bailouts to prevent their failure and a collapse of the economy and a second Great Depression. This is not an opinion; it is a proven fact. That’s what happened recently with the failures and bailouts of Silicon Valley Bank, Signature Bank, and First Republic Bank and what happened in 2008 with virtually all the giant Wall Street banks. That’s why these large banks are called “too-big-to-fail”: if they were allowed to fail, they would cause the collapse of the financial system and economy. (It’s important to remember that the dangers to the...
The lawsuit alleges the CCRB’s online database, 50-a.org, unfairly harms officers by listing serious accusations including sexual misconduct, racial profiling and making false official statements ...