Since the onset of the financial crisis, lawmakers and industry observers have debated the implicit funding subsidy that large financial institutions may receive because they are considered to be too big to fail. Over the last year, different groups have produced widely divergent estimates of the existence and size of any subsidy, joining a long list of academic work on the subject that has also failed to yield a consensus
At the request of Congress, the Government Accountability Office is about to weigh in on this subject this week. A key question remains: will GAO take into account the impact of the legislative and regulatory changes that have occurred since the passage of the Dodd-Frank Act?
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