May 10, 2010
Do you support capping the size of financial firms?
I think one of the unfortunate things in this crisis was you had big firms that were unmanageable and they merged and became even bigger and more unmanageable. I would actually support—some people are suggesting size restrictions in the legislation and sort of hard caps of various kinds in the legislation—I'd support that, because I think there is a tendency for the firms to get too big, too unmanageable, and then you kind of don't know what to do with them from a public policy perspective. I think if you put some hard limits on them, then the CEO would have to think about, "Okay, I'm coming up against this limit; which businesses do I want to sell off in order to keep under the size restriction?" I think that that's a reasonable way to go, actually.
President and Chief Executive Officer
Executive Assistant to the President
Senior Vice President and Chief of Staff to the President
Cletus C. Coughlin
Senior Economist and Special Assistant to the President
"Rationally, let it be said in a whisper, experience is certainly worth more than theory."