James Kwak On Too Big To Fail Banks (VIDEO)

CBS Video:  James Kwak of Baseline Scenario -- May 6, 2010

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As the FCIC continues to dig into the causes of the financial crisis with testimony from former Treasury Secretary Henry Paulson and current Treasury Secretary Tim Geithner, it might occur to even the most casual observer that banks are still pretty big. If we thought that banks were "too big to fail" in 2008, today it's scary to consider that the top 6 banks control an even larger share of the industry post Great Recession.

James Kwak, co-author with Simon Johnson of "13 Bankers" discussed what needs to happen to prevent banks from getting so big that they could potentially drag down the entire financial system.

Comments

[DailyBail]

AUDIO: Chicago Affiliate Won’t Cover GOP Senate Candidate if He Continues to Hammer Dem Opponent on Bank Scandal

http://bigjournalism.com/sright/2010/05/05/audio-chicago-cbs-2-wont-cover-senate-campaign-if-gop-candidate-continues-to-hammer-dem-opponent-on-bank-scandal/

[DailyBail]

Senate Strikes Deal on Failing Financial Firms

http://online.wsj.com/article/SB10001424052748703961104575226300910059496.html?mod=rss_whats_news_us

[DailyBail]

Italy Reasonably Distanced From Crisis, Roubini Tells Repubblica

http://www.businessweek.com/news/2010-05-06/italy-reasonably-distanced-from-crisis-roubini-tells-repubblica.html

[DailyBail]

http://www.businessinsider.com/jim-rogers-shorting-stocks-banks-now-2010-5

Jim Rogers Is Now Shorting A Major Western Financial Firm That Everyone Thinks Is Sound

[RecoverylessRecovery]

I actually corresponded briefly with Mr Rogers, never expecting he would actually bother to reply after I sent him a comment on American financial policies. This man is truly a gentleman AND a scholar.

Oh, and a trillionaire too.

I guess THAT'S what makes him so amazing; he STILL manages to be all three at the same time!

[RecoverylessRecovery]

"James Kwak discussed what needs to happen ..."

I dunno about him. I've heard he's a quack.