Too big to fail? Architect of the 2008 financial crisis Alan Greenspan said before the Council on Foreign Relations on Thursday NY Times coverage that the “too big to fail” banks need to be “broken up” because the implicit subsidy that they have access to the Federal Government to prevent their failure gives them an unfair advantage over their competition. (in the 1980s, retail banks were not allowed to operate across state lines, and Investment Banks could not be involved in retail banking)…
Upon reading that, my reaction was “Is the U.S. Government too big to fail?”
