The problem is severity


Since that terrible week in September 2008 when Lehman Brothers failed, American International Group was taken into conservatorship and Bank of America was ‘encouraged’ to acquire Merrill Lynch, too big (to be allowed) to fail has been the central issue on the minds of regulators and politicians. Unfortunately, discussion of this issue has produced more heat than light.

The heart of the problem is that, given current institutional arrangements, failure of the largest financial institutions will

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here