The final report from the Congressional Oversight Panel found that between TARP, the FDIC, and the Federal Reserve, Citigroup received the most federal funding during the financial crisis for a total of $476.2 billion in cash and guarantees. Next in line for a bailout was Bank of America with $336.1 billion. But between the billions in convenient funding and millions in SEC settlements for failing to disclose risks and losses, the banks have definitely learned their lesson, right? Not according to the panel:
"Very large financial institutions may now rationally decide to take inflated risks because they expect that, if their gamble fails, taxpayers will bear the loss," the report concluded. "Ironically, these inflated risks may create even greater systemic risk and increase the likelihood of future crises and bailouts."