Bank of America Bankrupt No longer to Big to Fail

There are rumors that Bank of America might go under and be taken over by the U.S. Government Is "too big to fail" just a distant memory? That's what Moody's seems to be telegraphing to the market after it slashed the credit ratings of Citigroup, Wells Fargo (WFC) and Bank of America on Wednesday. But while the government says it is no longer in the bailout business, it is hard to believe that moral hazard is dead. After all, the banks are bigger and more interconnected than ever before, making a potential failure far more devastating than when the government allowed Lehman Brothers to collapse in the fall of 2008.

• 2011-12-13T22:12:15+00:00
• Duration: 01:51

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Bank of America Bankrupt No longer to Big to Fail Banks Obama Goldman Sachs Jews Economy Stock Market Bankrupt