Sherman: Time to Break Up Too-Big-Too-Fail Institutions

The transcript discusses the challenges posed by large financial institutions, highlighting their size as a barrier to competition, management, and regulation. It examines the Wells Fargo scandal, questioning the leadership's ability to restore the bank's reputation. The idea of breaking up big banks into smaller, regional entities is proposed to prevent future bailouts and promote real capitalism. Additionally, the need for auditing important investor statistics, beyond just balance sheets and income statements, is emphasized to ensure transparency and prevent issues like phony accounts.

What does the phrase 'too big to fail' imply about financial institutions?

What are the implications of having institutions that are 'too big to manage'?

How could breaking up large banks lead to a more democratic financial system?

What specific changes does the speaker suggest for auditing financial statistics?

In what ways could the auditing of non-traditional financial metrics prevent issues like those faced by Wells Fargo?