Wednesday, March 11, 2009

Yes, I'm psychic! (or, I'm not alone)

Last week I wrote:
Given the underpinnings of the current mess - with so many financial institutions deemed "too big to fail" - perhaps it's time to revisit anti-trust laws with an eye more towards practices "deemed to hurt" consumers. Among these I would today count practices that encourage entities to become "too big to fail".
[Re-visiting anti-trust legislation: "too big to fail"]
Others are exploring this territory:
NOMI PRINS: Well, I personally believe they shouldn't be allowed to get too big to fail. That would be one way of helping to prevent this situation.
[Nomi Prins, a former managing director at Goldman Sachs, she's author of "Other People's Money" and a senior fellow at the think-tank Demos. Bernanke Calls for Overhaul of Financial Regulations, The Online News Hour, 10 March 2009]
Remember: you read it here first!

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