Reference no: EM133144242

The financial crisis of 2007-2008, also known as the global financial crisis and the 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s. It began in 2007 with a crisis in the subprime mortgage market in the United States, and developed into a full-blown international banking crisis with the collapse of the investment bank Lehman Brothers on September 15, 2008. Excessive risk-taking by banks such as Lehman Brothers helped to magnify the financial impact globally. Massive bail-outs of financial institutions and other palliative monetary and fiscal policies were employed to prevent a possible collapse of the world financial system. The crisis was nonetheless followed by a global economic downturn, the Great Recession. The European debt crisis, a crisis in the banking system of the European countries using the euroLinks to an external site., followed later.

In 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted in the US following the crisis to "promote the financial stability of the United States". One goal of the Dodd-Frank Act of 2010 was to end "too big to fail." Your task on this assignment is to write a report of one or two paragraph whether this goal is met.

The Excel Data Analysis summary statistics of the total assets of 30 largest U.S. banks for 2007 and 2013 are provided below. Five years after the peak of the financial crisis, has Washington solved the problem of banks "too big to fail"? Are the large U.S. banks larger than pre-recession level? Justify your answer using the descriptive statistics provided below. 

Year	2007	2013
Mean	328.6792	463.44159
Standard Error	94.96804	117.886028
Median	126.6565	176.636
Mode	#N/A	#N/A
Standard Deviation	520.1614	645.6883675
Sample Variance	270567.9	416913.4679
Kurtosis	6.325766	3.393940597
Skewness	2.560469	2.112468198
Range	2173.881	2306.6154
Minimum	46.985	82.7336
Maximum	2220.866	2389.349
Sum	9860.375	13903.2477
Count	30	30

Direction

Need help interpeting and writing a paragraph justifying my answer