MIT Economist Destroys the Idea That We Need the Megabanks to Survive [View all]

William Dudley, president of the NY Fed, and many others agree with Simon Johnson's assertion. Dudley commented that "We are a long way from the desired situation in which large complex firms could be allowed to go bankrupt without major disruptions to the financial system and large costs to society."

http://www.switchyourbank.org/simon_johnson_bank_size