Alan Greenspan on ‘Too Big to Fail’ Financial Institutions: My Bad


But look, it wasn’t like he didn’t know that after so many acquisitions and mergers large banks were swelling up like so many big, fat, overinflated water balloons, the former Federal Reserve chairman explained in a 48-page paper to be presented at the Brookings Institute tomorrow. He’s not daft. It was that he, er, just kind of neglected to do very much about it.

It’s kind of like when you say, “I should really deal with laundry before I have no underwear left,” but you’re busy and you put it off and then, yep, that happens. Only, you know, bigger.

PDF via [NYT]