Sunday, May 22, 2011

Banks are now "Too Big to Fail, squared. Concentration has gotten worse, not better, since the 2008 crisis."

  • "The top ten banks now control 77% of all bank assets."
  • "There is no way to practice, in advance, [the Too Big To Fail legislation now enacted by Congress]."
  • "I worry about [a second housing crash]. I don't want to tell you we're going to have a crash, crash; I think there is still a lot of pressure on the housing market."
  • "I think it's a jobs story ... which I'm not very confident about at this moment."
  • "What is the new normal around employment? Is 8% the new normal? Is 9% the new normal?
-- Andrew Ross Sorkin, full MTP interview, below.