Let the Market Enforce a Breakup of the Banks
Intelligence Squared U.S. Debates - Kaufman Center
To prevent the collapse of the global financial system in 2008, Treasury committed 245 billion in taxpayer dollars to stabilize America's banking institutions. Today, banks that were once "too big to fail" have only grown bigger, with JPMorgan Chase, Citigroup, Bank of America, Wells Fargo, and Goldman Sachs holding assets equal to over 50% of the U.S. economy. Were size and complexity at the root of the financial crisis, or do calls to break up the big banks ignore real benefits that only economies of scale can pass on to customers and investors?
Brought to you in partnership with the Richard Paul Richman Center for Business, Law, and Public Policy, a joint venture of Columbia Business School and Columbia Law School. The Richman Center fosters dialogue and debate on emerging policy questions where business and markets intersect with the law.