This is Greenspan, the former head of the Fed, whose job it is to keep the entire banking system afloat despite its inherent bankruptcy: “Government guarantees of the liabilities of institutions viewed as too big to fail thwarts the competitive process that produces capital efficiency,Of all the regulatory challenges that have emerged out of this crisis, I view the [“too big to fail”} problem and the…precedents, now fresh in everyone’s mind, as the most threatening to market efficiency and our economic future.”
These guys are usually better out of office than in. If we could just keep everyone out of office, we’d be good to go.
