Say of the Day: Alan Greenspan and George Schultz in WSJ on FM2

Greenspan:

“They should have wiped out the shareholders, nationalized the institutions with legislation that they are to be reconstituted — with necessary taxpayer support to make them financially viable — as five or 10 individual privately held units,” which the government would eventually auction off to private investors, he said.

George Schultz (I think of him for his role in the Reagan admin, but he’s an economist who was Nixon’s Secretary of Labor and Treasury)

“If they are too big to fail, make them smaller”

 

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