Big four dilemma looms but failure is not an option

By Georgia Wilkins
Updated April 19 2014 - 9:08am, first published April 18 2014 - 10:07pm
''This is not an unfair tax on our largest banking institutions' says Louise Petschler of COBA.
''This is not an unfair tax on our largest banking institutions' says Louise Petschler of COBA.

Five-and-a-half years ago, amid the financial strife unleashed by the collapse of Lehman Brothers, the US government stepped in to bail out financial institutions across the US – deciding the risk of moral hazard was preferable to an even greater financial calamity.

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