......Depending on the structure and needs of the economy, the country’s banking system should be dynamic and competitive, to cater to the diverse needs of the economy. It may be recalled that the doctrine of ‘ too big to fail’ banks dominated the American financial scenario at one point of time. Banks were encouraged to grow to unwieldy sizes. The global financial crisis of 2008 exploded the myth. Giants like Bear Sterns, Lehman Brothers and the AIG, fell like a pack of cards. Have we learnt any lessons from this crisis? Apparently not..........
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