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4min chapter
Larry Summers breaks down the banking crisis
GZERO World with Ian Bremmer
The Fed's Response to the Credit Suisse Bailout
I think this is less about the same size mistake being punished more severely and more about this really being an epic-sized mistake. In general, all of us are more likely to make big mistakes when we're in territory that's uncharted for us than in territory where we have a very extensive experience. I'm concerned that there's still too much ambiguity out there in the system about what will happen to uninsured bank deposits. And I wish there were a bit more stepping back to think about the final set of developments.
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