Smallifying Too Big to Fail

Karl Denninger really likes what POTUS had to say yesterday about financial reform.

You should, too. If properly implemented, President Obama's proposal will go a long way towards mitigating the systemic risk that "too big to fail" financial institutions pose to our economy. No single institution should be TBTF. Shrink the morbidly obese oligarchs. There will still be plenty of profit to keep them all fat and giggly without relying on the taxpayer to fund high-risk speculative soilage the next time around.

Update: A nuanced look at financial reform from Jason Zweig over at the WSJ.