07/14/2010 10:20 pm ET | Updated May 25, 2011

Simon Johnson: A Roosevelt Moment for America's Megabanks?

WASHINGTON, DC -- Just over a hundred years ago, the United States led the world in terms of rethinking how big business worked -- and when the power of such firms should be constrained. In retrospect, the breakthrough legislation -- not just for the US, but also internationally -- was the Sherman Antitrust Act of 1890.

The Dodd-Frank Financial Reform Bill, which is about to pass the US Senate, does something similar -- and long overdue -- for banking.

Read more on Project Syndicate