The Coming Meta-Boom and Meta-Bust -- One Top Economist's View Part 1 of 2





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Uploaded on Oct 12, 2010

Simon Johnson, a former chief economist for the International Monetary Fund and author of 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown, says the recently passed Dodd-Frank Financial Reform Act does little to prevent the biggest financial risk of our time: banks that are becoming "Too Big to Save," either because potential losses could overwhelm government resources or the public will refuse to sanction another large bailout. Either way, the world economy could crash once again. But preceding any crash, watch for a worldwide "meta-boom." Knowledge@Wharton discussed this and several others issues with Johnson, including how shrinking down big banks could ward off financial meltdowns, Ireland's solvency-threatening debt burden and the implications of Basel III.

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