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I scanned the article, found no bullet points and no sentence that grabbed my attention enough to read. As much as I normally respect Volcker, this paper gets
by jackfoxy 17y ago
I scanned the article, found no bullet points and no sentence that grabbed my attention enough to read.
As much as I normally respect Volcker, this paper gets an "F" as a "How To".
- BearOfNH 17y agoMy take: if it's "too big to fail" they need to create a "living will" to direct how to liquidate the company when it does fail. This avoids a sudden, unexpected shock to the system and any resulting dislocations. In my mind it's debatable that something like that can be done practically, or that a "living will" would really work in practice. I am reminded of the "duck and cover" drills from my youth. Still, something needs to be done.