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lol thinkprogress.
Romney Adviser Scoffs At Notion Of Capping Bank Size“I understand Dan Tarullo gave those remarks. I disagree with them. First of all I’m not quite sure what a cap would be and how I would figure it out,” Hubbard said in response to a question at a National Association for Business Economics conference.
“The reason we’re concerned about big banks is that they’re too big to fail,” he added. “If the market forces say these banks are too big and too complex, they will be wittled down to size. And I think that’s a much better (solution) than arbitrary limits on bank sizes.”
http://thinkprogress.org/economy/201...ser-cap-banks/
ah, yes, blind trust in the "market" to fix everything,when the "market" broke everything.
Just gotta love these assholes' constant repe ion of pure bull .
lol thinkprogress.
Breaking up the TBTF banks is useless without stopping the insanity of $50T+ plus in derivatives.
no, it isn't.
The problem is that a free-market won't do that, as such things are too hard to really gauge by outsiders and unsufficiently grasped by insiders until it is too late.
Given how interlocked things are, such overwhelming, unimaginative faith in free markets is downright dangerous.
The world has changed since these people cut their teeth on capitalism, and they don't really quite understand that, even with the rather blatant example taht the recent financial crisis has served us.
More like a quadrillion or so, depending on how you define them.
"Too big to fail" is just a convenient excuse for more corporate welfare, money-printing, and propping-up of the 1%, tbh.... time to stop the insanity and get back to common sense... if a company s up their finances badly enough to go bankrupt, they need to face the consequences regardless of their size instead of forcing the taxpayers to spend hundreds of billions on letting them stay corrupt and mismanaged...
The Fed-engineered boom-and-bust cycles and the malinvestment frauds that brought about the financial crisis would have no place in true free-market capitalism, actually, because there'd be no fractional reserve banking to ruin lives and inflate currency, and there'd still be a justice system to punish con-men....
"Fed-engineered boom-and-bust cycles"
how does the Fed engineer the decades-old instability of capitalism?
it's the deregulation of the financial sector that causes, every damn time, financial crises, not the Fed.
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