REUTERS/Mike Segar - A Wall Street sign is seen in Lower Manhattan in New York, January 20, 2016. Wall Street moved deep into the red on Wednesday, with the S&P 500 hitting its lowest since February 2014 and extending this year's selloff as oil prices continued to plummet unabated.
Breaking up the big banks won't stop another financial crisis
April 29, 2016,
In debating whether or not to break up the big banks, there is a key misconception that has to be put to rest by both sides: another financial crisis will occur, regardless. Financial crises are part of the economic framework of capitalism, whether they are based on Dutch tulip mania in the 1600s, the Panic of 1907 with runs on banks and trusts, the savings and loan debacle of the 1980s, or the subprime mortgage meltdown of the last decade. History is clear, there is no magic solution to end financial crises based on the size or number of banks in a country.