The American government is doing everything it can to avoid breaking up the too big to fails, even though there is absolutely no reason not to (see this and this).
As Reuters columnist Rolfe Winkler wrote yesterday:
The new legislation unveiled by Representative Barney Frank doesn’t end “too big to fail” — it codifies it. It also puts taxpayers on the hook for a large portion of future bailouts.
But Europe is in the process of breaking up:
- And potentially other banks
What's the matter with the Yanks?
