Washington Post – You can’t blame Congress for wanting to squeeze risk out of the big Wall Street firms. In 2008, mishandled risk cratered the economy, triggering a sharp expansion of the national-debt burden and leaving at least one in 10 Americans without work.
But if the big guys take less risk, what other institutions will shoulder it? Once you ask this question, the financial reform emerging from Congress acquires a new complexion. Some controversial measures seem surprisingly attractive. Some uncontroversial ones appear absurd.
