Simon Johnson: Too big to fail is “too big to exist”

Advertisement

Simon Johnson, a former IMF Chief Economist, who blogs over at the Baseline Scenario, is testifying before Congress today about ‘Too big to fail’ financial institutions.  Below is a video in which he tells Bloomberg his thoughts on the subject before his testimony.

Related Posts
1 of 1,807

His overall message is that the government needs to deal with the fundamental weakness of banking more head-on right now. Johnson believes the larger institutions will ultimately need to be broken up. He also will testify that the government must prevent poor compensation schemes while the banks are still collecting taxpayer money.

Get real time updates directly on you device, subscribe now.

Do NOT follow this link or you will be banned from the site!