Simon Johnson Explains The Case For Megabanks Fails

The Case For Megabanks Fails
WASHINGTON, DC - MARCH 14: Massachusetts Institute of Technology Sloan School of Managment Professor Simon Johnson testifies before the Congressional Joint Economic Committee in the Dirksen Senate Office Building on Capitol Hill March 14, 2013 in Washington, DC. The bipartisan committee took testimony from a panel of economists during the hearing, titled 'Flirting With Disaster: Solving the Federal Debt Crisis,' (Photo by Chip Somodevilla/Getty Images)
WASHINGTON, DC - MARCH 14: Massachusetts Institute of Technology Sloan School of Managment Professor Simon Johnson testifies before the Congressional Joint Economic Committee in the Dirksen Senate Office Building on Capitol Hill March 14, 2013 in Washington, DC. The bipartisan committee took testimony from a panel of economists during the hearing, titled 'Flirting With Disaster: Solving the Federal Debt Crisis,' (Photo by Chip Somodevilla/Getty Images)

The megabank lobby has finally put its best arguments on the table. After years of silly Twitter posts, weak research papers and other forms of unimpressive public relations, those opposed to further financial reform now have serious representation in the debate about what to do regarding too-big-to-fail banks.

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