BUSINESS
05/09/2009 05:12 am ET Updated May 25, 2011

Roubini: Bank Takeovers Deepened Financial Market Crisis

Bank takeovers worsened the financial crisis by making firms that were already too big even bigger, said Nouriel Roubini, the New York University professor who predicted the financial crisis.

"The institutions are insolvent," Roubini said in a Bloomberg Radio interview. "You have to take them over and you have to split them up into three or four national banks, rather than having a humongous monster that is too big to fail."

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