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Break Up The Big Banks

Posted

October 17, 2013

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To prevent the collapse of the global financial system in 2008, Treasury committed 245 billion in taxpayer dollars to stabilize America's banking institutions. Today, banks that were once "too big to fail" have only grown bigger, with JPMorgan Chase, Citigroup, Bank of America, Wells Fargo, and Goldman Sachs holding assets equal to over 50% of the U.S. economy. Were size and complexity at the root of the financial crisis, or do calls to break up the big banks ignore real benefits that only economies of scale can pass on to customers and investors?

Brought to you in partnership with the Richard Paul Richman Center for Business, Law, and Public Policy, a joint venture of Columbia Business School and Columbia Law School. The Richman Center fosters dialogue and debate on emerging policy questions where business and markets intersect with the law.

For the Motion: Richard Fisher, Simon Johnson

Against the Motion: Douglas Elliot, Paul Saltzman

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Guests & Subjects Covered

JPMorgan Chase Citigroup BankAmerica Wells FargoGoldman SachsRichard Paul Richman CenterBusiness LawPublic PolicyColumbia Business SchoolFacebook Tweet

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Break Up The Big Banks · Open to Debate · Sentinel