Jun
19th
Fri
19th
Pandit should really have one goal, which is to break up the company into a bunch of parts, none of which are systemically important.
The idea that the government isn’t mandating this specifically, given our huge stake in it, and given (as James Grant recently observed) that the rogue bank has nearly failed during every crisis there has been, is absurd.
But that’s not the direction Pandit wants to go. Instead he’s been talking about expanding internationally, because the growth in the US is just to slow for him.
