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COMMENT ON THE 2011 WINCOTT LECTURE, ‘CONTROL RIGHTS (AND WRONGS)’
Author(s) -
Wolf Martin
Publication year - 2012
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2012.02156.x
Subject(s) - too big to fail , control (management) , financial system , business , financial crisis , finance , market economy , economics , management , keynesian economics
Over a long period leading up to the current financial crisis, small banks within a small banking system were replaced by unsafe, large banks within a huge banking system. The banks have now grown so big and so dangerous that they have the capacity to wreck economies and bring down governments.