Should Big Banks Be Broken Up?
Simon Johnson, Harvey Rosenblum, Phillip Swagel, Peter Wallison
Moderator: Bradley Belt
October 15, 2012
In the United States, the top five banks hold more than 50 percent of the total assets in the U.S. banking industry. Given increased bank consolidation and continued concerns over systemic risk to the global economy since the financial crisis, some have argued that big banks should be broken up to protect American taxpayers. But others disagree, arguing that markets can best dictate the appropriate size and structure of banks and that scale is critical in promoting efficient global credit markets and ensuring the competitiveness of U.S. banks. Simon Johnson, Harvey Rosenblum, Phillip Swagel, and Peter Wallison will debate these issues and related questions. We welcome you to join the distinguished panelists for a lively and timely debate.
About the speakers:
Simon Johnson is professor of Global Economics and Management, Massachusetts Institute of Technology Sloan School of Management.
Harvey Rosenblum is executive vice president and director of research, Federal Reserve Bank of Dallas.
Phillip Swagel is senior fellow, Milken Institute and professor in International Economic Policy, University of Maryland School of Public Policy.
Peter Wallison is Arthur F. Burns fellow in Financial Policy Studies, American Enterprise Institute.
Bradley Belt is senior managing director, Milken Institute.