“If a big non-bank institution gets in trouble and threatens the whole system, there ought to be some authority that can step in, take over that organization and liquidate it or merge it — not save it. It’s called euthanasia, not a rescue.”
-Paul Volcker said on CNN.
Paul Volcker said in an interview with Fareed Zakaria that large financial institutions that engage in speculative activities for profit should be allowed to fail.
Volcker continues to argue for reinstating Glass Steagall — separating investment firms engaged in market speculation from commercial, deposit-taking banks.
Volcker says must let big financial firms fail
Reuters, Feb 14, 2010 10:52am
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.