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Maybe the restructuring would have been chaotic, and undoubtedly would have been painful, but it's the only way to teach market actors to behave. If Congress h
by ETH_start 4y ago
Maybe the restructuring would have been chaotic, and undoubtedly would have been painful, but it's the only way to teach market actors to behave.
If Congress had gotten out of the way, other capitalized parties, like Walmart, were ready to step into the financial sector to add some much needed competition in the wake of the financial crisis:
https://www.nytimes.com/2007/03/17/business/17bank.html https://www.nytimes.com/2007/03/17/business/17bank.html
(archived copy: https://archive.is/aJC3Y https://archive.is/aJC3Y)