(Bloomberg View) — A number of U.S. financial institutions remain so economically essential and so structurally complex that the government would have little choice but to rescue them in an emergency.
A decision announced by regulators today represents an important step toward solving this “too-big-to-fail” problem.
Many economists and politicians remain concerned about the too-big-to-fail issue. Some, including presidential candidate Bernie Sanders, urge Congress to break up the banks. Perhaps I'm overly cynical, but I see little chance of any legislative movement on this front in the next five years.
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