In an interview last week, William K. Black hit the nail on the head:
[Interviewer]: If you were advising President Obama on financial reform, what would your first priority be?
Mr. Black: Containing, and beginning to end, “too big to fail.” Financial institutions that are too big to fail are not, as the administration has rebranded them: “systemically important” — they are systemically dangerous institutions (SDIs). First, they should not be allowed to grow. Second, their managements should be removed if they were mismanaged. Third, they should be shrunk to the point that they no longer endanger the global economy.
No comments:
Post a Comment
→ Thank you for contributing to the conversation by commenting. We try to read all of the comments (but don't always have the time).
→ If you write a long comment, please use paragraph breaks. Otherwise, no one will read it. Many people still won't read it, so shorter is usually better (but it's your choice).
→ The following types of comments will be deleted if we happen to see them:
-- Comments that criticize any class of people as a whole, especially when based on an attribute they don't have control over
-- Comments that explicitly call for violence
→ Because we do not read all of the comments, I am not responsible for any unlawful or distasteful comments.