This is kind of interesting with regard to Paul Krugman's recent dismissal of Bernie
Sanders on breaking up the banks because they represent a real and present danger to the US economy:
Elizabeth Warren Has Basically Had It With Paul Krugmans Big Bank Nonsense
Too Big To Fail is alive and well.
Senior Political Economy Reporter, The Huffington Post
But Warren directed her sharpest words at an unnamed set of people who have recently downplayed the role of big banks in the financial crisis and questioned the value of breaking up big banks an apparent reference to the Nobel Prize-winning Krugman...
On Friday, Krugman argued that the financial crisis wasnt really a problem of too big to fail, but rather a failure to regulate so-called shadow banks a broad term including just about every financial activity beyond traditional loans and deposits.
Of course Krugman's remarks were part of a scathing critique of Bernie Sanders' position on breaking up the big banks.
I used to respect him, but now even his economic points are tainted by his political choice. Too big to fail was a huge part of the problem. We would never have had the massive taxpayer funded bailout if there weren't so many too big to fail institutions. And it is naïve or disingenuous to pretend the too big to fail companies weren't intimately involved with shadow banking.
Elizabeth Warren seems to be the only objective person left in DC.
Ambition has unhinged him, as it has done others.