"History is a wonderful thing, if only it was true"

Monday, May 03, 2010

Banking should be Boring - still

This one goes on my Amazon list.
We let banks get big to compete in the Global Market, but was that really necessary when we have the rough and tumble of Wall Street?
The problem as I see it is the lack of transparency, and I firmly believe that we need separation of taking of deposits and trading ...

Author's blog is The Baseline Scenario

Too Big to Prevail? - 13 Bankers, Business Week review

"The Good: MIT's Simon Johnson and his co-author and co-blogger James Kwak label U.S. megabanks an oligarchy and do a convincing job of backing up the assertion.

The Bad: The books middle chapters present an all-too-familiar—though meticulously researched—account of how the economy became 'financialized.'

The Bottom Line: By book's end, the authors' harsh proposals, including caps on the size of individual banks, begin to look like common sens"

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