Simon Johnson: The Wall Street Takeover and the Next Financial Meltdown
Courtesy of Jesse's Cafe Americain
Is the crisis over? No
Have we fixed the underlying problems? No
This video is from 2011. The answers remain the same.
TBTF is a government subsidy, a cartel, and a distorting factor on markets.
This is not about economics or the analytics anymore. This is about politics, this is about power, this is about the money.
Simon Johnson is one of the few economists that are making any real sense of what happened, and what therefore is likely to happen next. I find his thoughts quite persuasive, at least on this particular topic of the roots of the crisis and the nature of the likely solutions with regard to bank regulation.
