Obama's Limits On Big Banks Should Be Judged By A Breakup Of Goldman Sachs

03/23/2010 05:12 am ET | Updated May 25, 2011
  • Simon Johnson Bloomberg

In particular, the White House background briefing yesterday morning -- while somewhat ambiguous -- gave listeners the strong impression that these new proposals would freeze the size of our largest banks "as is." This makes no sense. Why would anyone regard 20 years of reckless expansion, a massive global crisis, and the most-generous bailout in recorded history as the recipe for creating right-sized banks?

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