Janet Yellen's Too-Big-To-Fail Repression

The transcript covers various financial topics, including the dynamics of financial spreads, the challenges and implications of bank mergers, and the role of regulations like Glass-Steagall. It also delves into the effectiveness of stress tests in the US and Europe, highlighting systemic risks and the importance of central clearing platforms. The discussion touches on Brexit's impact on US banks in London and the future of the banking industry, suggesting a shift towards a utility model. The overall message emphasizes the need for smaller, risk-averse banking models.

How do stress tests in the US compare to those in the European Union according to the discussion?

What are the challenges faced by banks in light of Brexit as discussed in the text?