Business

The Fed's Lame Defense of Too Big To Fail

Washingtons Blog
Federal Reserve Governor Daniel Tarullo argues that we should not break up the too big to fails or reimpose Glass-Steagall because: Financial institutions that experienced so many problems -- such as Bear Stearns and Lehman Brothers, which did not have commercial banking operations -- would still have posed a "too big to fail" threat had commercial banks been prohibited from owning investment banks prior to the crisis.
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Posted by Editor at November 11, 2009 02:41 AM