TY  - JOUR
AU  - Mishkin,Frederic S.
TI  - How Big a Problem is Too Big to Fail?
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 11814
PY  - 2005
Y2  - December 2005
UR  - http://www.nber.org/papers/w11814
L1  - http://www.nber.org/papers/w11814.pdf
N1  - Author contact info:
Frederic S. Mishkin
Columbia University
Graduate School of Business
Uris Hall 817
3022 Broadway
New York, NY 10027
Tel: 212-854-3488
Fax: 212/662-8474
E-Mail: fsm3@columbia.edu
AB  - This review essay examines whether too-big-to-fail is as serious a problem as Gary Stern and Ron Feldman contend. This essay argues that Stern and Feldman overstate the importance of the too-big-to-fail problem and do not give enough credit to the FDICIA legislation of 1991 for improving bank regulation and supervision. However, this criticism of the Stern and Feldman book does not detract from many of its messages. Even if the too-big-to-fail problem is not as serious as they contend, the policies they outline can make it less likely that a banking crisis will occur even if driven by other factors.
ER  -