The Maestro Writes a New Tune
It's not uncommon to hear financial commentators say that "if [banks are] too big to fail, they’re too big." But it is uncommon to hear Alan Greenspan say that.
By
Ezra Klein
|
October 15, 2009; 5:54 PM ET
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Posted by: bmull | October 15, 2009 11:39 PM | Report abuse
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Greenspan is on a posterity tour. Any fool can see that having huge international investmnet banks backstopped by the US taxpayer is going to lead to catastrophe. He wants to get out in front of that. He also expressed his preference for breakups *in lieu of* more regulation.