Dave

Dave is a part-time blogger that writes about whatever suits him at the time.

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6 Responses

  1. Mark Thompson says:
    November 9, 2009 at 11:45 am

    Whatever my thoughts about this proposal in theory and in concept (I like it), the amount of power this provides the Executive disturbs the living daylights out of me. This is something that requires a hell of a lot more than a one-paragraph definition if it were to have any kind of neutral application. Otherwise, the way this is currently worded, the Executive would have sole and absolute discretion (subject at best to an arbitrary and capricious standard of review) to say which businesses are and are not so big that they should be broken up.Report

  2. Dave says:
    November 9, 2009 at 12:41 pm

    I think I was more pleased with the principle than the actual legal language.

    For some strange reason, every time I think of TBTF, I think of Fannie and Freddie ;). With the expectation of Uncle Sam stepping in, it’s not unreasonable to suggest they’d enjoy the same cost of capital advantages that Freddie and Fannie did.

    Good points though.Report

  3. Katherine says:
    November 9, 2009 at 2:05 pm

    I’m for it. Needs to encode a better definition of “too big to fail” (eg, “cannot control more than X amount of Y financial industry), but other than that, good.Report

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