Several senators continued to lambast the size of large Wall Street banks at a hearing on Wednesday, signaling lawmaker pressure to break up or shrink big banks will not abate in the new year, Dow Jones Daily Bankruptcy Review reported today. Sen. Sherrod Brown (D-Ohio), who could rise to be chairman of the Senate Banking Committee next year, opened a subcommittee hearing on big bank subsidies Wednesday by saying it's "unacceptable" that "the largest Wall Street banks are so much larger and more concentrated than they have ever been." Sen. Elizabeth Warren (D-Mass.) said that the 2010 Dodd-Frank law has not curbed the possibility of future taxpayer bailouts of financial firms, a position backed by several academics testifying at the hearing.
To read prepared testimony from the hearing, please click here:
http://www.banking.senate.gov/public/index.cfm?FuseAction=Hearings.Hear…