MIT professor Simon Johnson says banks over $100 billion do no good for society, and plenty of harm

[Ichingcarpenter]

Simon H. Johnson (born January 16, 1963)[1] is a British American economist. He is the Ronald A. Kurtz Professor of Entrepreneurship at the MIT Sloan School of Management[2] and a senior fellow at the Peterson Institute for International Economics.

[3] He has held a wide variety of academic and policy-related positions, including Professor of Economics at Duke University's Fuqua School of Business.[4] From March 2007 through the end of August 2008, he was Chief Economist of the International Monetary Fund.[5]

He is author, with James Kwak, of the 2010 book 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown (ISBN 978-0307379054), with whom he has also co-founded and regularly contributes to the economics blog The Baseline Scenario.[6]


https://en.wikipedia.org/wiki/Simon_Johnson_(economist)

[Unknown Beatle]

1. Yet Obama and Holder

let them all skate. Not one bigwig was even close to being prosecuted.

I can just hear them all giggling like little school children when they steal and gamble our money, losing it and getting more of our money back again. And again gambling it all away. Look for another crash that I predict will come in 2016.

[jwirr]

2. And we did not get a real financial refore either. We did not even get Glass-Steagell reinstated.

That would have at least protected the people and their pensions from the dance of investment gaming. That would have meant that the FDIC was used to protect the people and their pensions not the gamblers and it would have meant that we did not have to bail them out because they used their own money to gamble with insteat of everyone's money.

Remember the risk to ALL of us still stands. Little has changed since 2007.

[Doctor_J]

3. Only one candidate wants to do something about such banks

Too bad there are so many alleged Dems who disagree.

rec