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During the global financial crisis of 2007 to 2008, the interconnectivity of financial institutions created a domino effect that left governments scrambling for solutions. Policy responses in the United States included bailouts of banks' creditors and the passage of the Dodd-Frank Act in 2010.
What courses of action should be followed when banks grow so large that they threaten the health of the entire economy when they go bankrupt? Jim Barth, Lowder Eminent Scholar of Finance in the Raymond J. Harbert College of Business, recently discussed the phenomenon of "Too Big to Fail" at the University of Texas. Barth, who was interviewed about the financial crises by the Financial Crisis Inquiry Commission and the Congressional Oversight Panel, discussed public policies aimed at heading off a repeat of the global recession. He was hosted by the University of Texas Center for Politics and Governance.