Make Big Banks Smaller

September 14, 2009 9:15am by Barry Ritholtz

While the rank and file economists seem comfortable with the idea the worst is behind us, that we are in recovery, and that TBTF is not a problem, the top of the profession sees things differently.

And, they want the megabanks downsized.

Here is a short list:

• Nobel prize-winning economist, Joseph Stiglitz

• Chairman of the Commons Treasury, John McFall

• Nobel prize-winning economist, Ed Prescott

• Dean and professor of finance and economics at Columbia Business School, and chairman of the Council of Economic Advisers under President George W. Bush, R. Glenn Hubbard

• MIT economics professor and former IMF chief economist, Simon Johnson (and see this)

• President of the Federal Reserve Bank of Kansas City, Thomas Hoenig (and see this)

• Deputy Treasury Secretary, Neal S. Wolin

• The President of the Independent Community Bankers of America, a Washington-based trade group with about 5,000 members, Camden R. Fine

• The Congressional panel overseeing the bailout

• The head of the FDIC, Sheila Bair

• The leading monetary economist and co-author with Milton Friedman of the leading treatise on the Great Depression, Anna Schwartz

• Economics professor and senior regulator during the S & L crisis, William K. Black

• Economics professor, Nouriel Roubini

• Economist, Marc Faber

• Professor of entrepreneurship and finance at the Chicago Booth School of Business, Luigi Zingales

• Economics professor, Thomas F. Cooley

• Former investment banker, Philip Augar

Source: WASHINGTON’S BLOG

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