The too-big-to-fail problem won’t go away. Tax policy, as suggested by Robert Atwell on page 6, or new incentives, as suggested by Minneapolis Fed Bank President Gary Stern on page 15, may minimize the problem, but too-big-to-fail is here to stay.
Too-big-to-fail isn’t so much an economic problem or a regulatory problem as it is a political problem. Let me explain.
The public, as represented by elected . . .
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