‘It’s not going to be different this time,’ Morgan Stanley strategist says
Steve Goldstein MarketWatch 17 March 2023
The first bank that was declared “too big to fail” was Continental Illinois, which received a bailout in 1984 from President Ronald Reagan.
Attacking banks is emotionally satisfying. But it won’t prevent financial crises.
Recall that Lehman Brothers was not a commercial bank, and AIG was an insurance company.
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