In the recent financial crisis, the federal government spent billions of dollars bailing out institutions that were deemed too big to fail.
In the new Weekend Business podcast, Gretchen Morgenson says that despite the passage of the Dodd-Frank law, some financial institutions have grown even bigger. As she writes in Sunday Business, though, there is still some interest in Congress in changing that, despite lobbying from banks.
European leaders reached an agreement aimed at averting a possible breakup of the euro zone, as I discuss in the news update portion of the podcast. But neither Europe nor the United States is likely to be the fastest-growing region in the world in the decades ahead, in the view of Jim O’Neill, the chairman of Goldman Sachs Asset Management, whom I interview in my column in Sunday Business. He says Brazil, Russia, India and China — plus Indonesia, Mexico, Turkey and South Korea — are likely to be global growth engines in the decades ahead.
In another part of the podcast, Diana Henriques provides an update on the case of Bernard Madoff, who ran the biggest Ponzi scheme in history, and who has continued to correspond with her from his prison cell.
Also on the podcast, Robert Frank of Cornell University says the economy depends on better government, not less government, and cites a personal experience at his local Department of Motor Vehicles office as an example of the benefits that more efficiency can bring.
You can find specific segments of the podcast at these junctures: Gretchen Morgenson on scaling back banks (27:03); news headlines (21:03); Diana Henriques on the Madoff case (17:49); Robert Frank (8:20); the week ahead (1:48).
As articles discussed in the podcast are published during the weekend, links will be added to this post.
You can download the program by subscribing from The New York Times’s podcast page or directly from iTunes.
Article source: http://feeds.nytimes.com/click.phdo?i=617b4f03e9b8ed878ba5522624d60f14
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