Rolfe Winkler says the size of the banks — their deposit base were more than twice as large relative to the economy — in trouble necessitated TARP. But now that broad economic stability is in sight, it's time for a different approach.
But the right way to fix this isn’t to erect some clumsy compensation apparatus to control pay on Wall Street (which won’t affect Goldman anyway because they don’t qualify as having received extraordinary assistance). The right way is to let them fail, as messy as that would be.
Dec 9, 2009 9:54 AM
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