The five biggest banks, along with a couple of other pretty big ones, are currently without adequate crisis recovery plans according to the government. That's something like $5.6+ trillions in assets that don't have the means to fail gracefully.
Even as the government has given the banks more time to get their act together you still have to wonder; is even that bar of recovery capability really high enough for this much assumed value? And lets not forget what I've already been beating the drum about for some time now: Stress events are going to be coming in far more interacting ways than they ever have before. That's just the way it is with highly interactive systems that are already going through event occurrence streams that challenge their carrying capacities for this sort of thing.
And the bottom line problem here is the same as it always has been: Who's to pay for truly sufficient preparatory plans, let alone the cleanup when the feces finally hits the fan again big time. How much do you want to bet that, to have really adequate, its raining shit, insurance, the banks would have to cut their current profit margins by at least a third, if not more. And if a supposedly "Showing Leadership for the People" president like Obama can't hold their feet to the heat of actual responsibility here, who's going to? Clinton? Trump? Do I even need to ask in the first place?
If you still don't think greed should be seen as a "Weapon of Mass Destruction," just wait. You will be a believer soon enough.
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