Making The Switch From Nice To Big Banks To Tough On Them

Treasury Secretary Tim Geithner is going to propose (to his colleagues in the Group of 20 nations), that banks--especially really big ones--be subject to much higher capital requirements. Adair Turner, chairman of the U.K. Financial Services Authority, wants big banks to have to prepare "living wills" that lay out how they will be wound down in case of failure (for more on the "living will" idea, here's Gillian Tett and here's Willem Buiter)...