Interesting piece from Politico (of all places) that discusses the problem of "too big to fail" banks. The article rather wisely notes that banks can't finance the once-every-twenty-years failures of the world banking system, and so should be prohibited from doing the things that lead to these failures.
I certainly don't have the expertise to dissect this in detail, and perhaps there's a counter-argument to letting Wall Street have its way more. But if I were a pol and knew that Wall Street wasn't going to support me anyway, I'd be pushing these ideas. |
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