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Former Merrill Lynch CEO: Too-big-to-fail is still a problem

By Joseph Lawler
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Former Merrill Lynch CEO: Too-big-to-fail is still a problem

The problem of too-big-to-fail banks hasn’t gone away, according to the man who ran one of the banks that proved to be too big to fail in 2008.

John Thain, the former CEO of Merrill Lynch, told the Wall Street Journal Friday that “we still have the issue of too big to fail. If anything, the biggest financial institutions are a bigger percentage of the total of the financial industry than they were before.”

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