Maestro Nurtures a New Too-Big-to Fail Crisis: Simon Johnson

By Simon Johnson - Mar 27, 2011

Bloomberg Opinion

Just tell the government to back off and all will be fine.

That’s what former Federal Reserve Chairman Alan Greenspan seems to say in “Activism,” an article published in the Spring issue of International Finance available on the Council on Foreign Relations’ website.

“Current government activism is hampering what should be a broad-based robust economic recovery,” he writes.

If we follow his advice this time, and if his line of reasoning prevails in the 2012 presidential election, we’ll stumble again into another boom-bust-bailout crisis.