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Willem Buiter: Why do you have big banks? Well, because banks like monopoly power; because banks like lobbying power; because, banks know that when they're too big, they will be bailed.
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Charles Morris: I had a friend who was a bond trader at Merrill Lynch in the 1970s. He had a job as a train conductor at night, 'cause he had three kids and couldn't support them on what a bond trader made. By 1986, he was making millions of dollars, and thought it was because he was smart.
Frederic Mishkin
Extended Reading
