From article in Bloomberg:
The policy over the past 30 years of giving the big banks pretty much what their executives want has proved to be an unmitigated disaster. Itâ€™s time to change that in a fair and reasonable manner. Let every disputed mortgage case be examined separately, using the full process of the law. If that prospect is too daunting for the banks accused of serious misconduct, then they should reach a settlement thatâ€™s big enough to make a difference.
|||||||||Simon Johnson, who served as chief economist at the International Monetary Fund in 2007 and 2008, and is now a professor at the Massachusetts Institute of Technology and a senior fellow at the Peterson Institute for International Economics, is a Bloomberg View columnist. The opinions expressed are his own.