It is worth noting that 'too big to fail' is not simply about size. A big institution is 'too big' when there is an EXPECTATION that GOVERNMENT will do whatever it takes to RESCUE that institution from failure, thus bestowing an effective risk premium subsidy. Reforms to end 'too big to fail' MUST ADDRESS the causes of this expectation.
Read MoreI don't THINK any GOVERNMENT is going to go back on the reforms process. There is no government that won't attempt to get PEOPLE to COME and manufacture in India.
Read MoreI'm going to be WORKING the NEXT 25 or 30 years. People like me, if we want, number one, for no BENEFIT reductions for our parents and our grandparents, number two, for the SYSTEM to survive and exist for us, and, more importantly, number three, for the system to exist for us children, we are going to have to make reforms to that system.
Read More