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Well Fargo scandal proves that banks are too big

The recent Wells Fargo scandal is getting a lot of negative attention but the facts aren’t that surprising. In this episode, Matt Phillips argues that it should no longer be shocking when American banks engage in ethically and legally dubious behavior. Finance is such a disproportionately large part of our economy, that it’s only logical for banks to loosen their standards in order to grow their already massive revenue enough to live up to Wall Street’s expectations.