The Bank Problem
Ezra Klein interviews Dodd about the financial regulation bill:
What we've done here says that if you're going to become a certain size, that's fine. But you're going to have to meet different capital standards, you're going to have different criteria that are going to protect us against the possibility you can fail. And just in case you have any doubts about this, if you do fail, all your management's fired, all your shareholders lose, all your creditors lose, you can't go back into the business for years to come. So yeah, you can get bigger, but there are going to be a lot of things to insulate us and our economy from the kind of hazards you could pose by your size.
Simon Johnson surprise! would rather break up the big banks.