13 Bankers: The Wall Street Takeover and the Next Financial Meltdown

Simon Johnson, Peterson Institute
Morris Goldstein, Peterson Institute

Peterson Institute for International Economics, Washington, DC

April 6, 2010

At a PIIE event held April 6, 2010, Senior Fellow Simon Johnson discussed the proposals in his new book for legislative and policy changes that could help prevent future financial crises. The volume, 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown, coauthored with James Kwak, places the recent financial crisis in the context of US economic history and emphasizes the similarities between the current debate over regulatory reform with earlier episodes when the United States decided that certain economic entities had become too large for the health of the country. Senior Fellow Morris Goldstein, who has himself published widely on financial regulatory reform, led a discussion followed by Johnson's presentation.

Simon Johnson has been a senior fellow at the Institute since September 2008 after completing his tenure as chief economist of the International Monetary Fund. He is also the Ronald A. Kurtz Professor of Entrepreneurship at the Sloan School of Management at MIT and a member of the Congressional Budget Office's Panel of Economic Advisers. Simon is an active blogger, including with his own and as a contributor to The New York Times Economix and as contributing business editor to He has commented widely on the evolution of the crisis and policy responses to it. Johnson has published extensively on crisis response and development issues throughout his career and is one of the originators of the view, now widely accepted, that the strength of institutions is one of the key determinants of successful development in poor countries.

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