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Charting the ascent of 'the American oligarchs'

By James Pressley | China Daily | Updated: 2010-03-25 08:06

Alan Greenspan, the master of monetary mumbo jumbo, leaned back in his chair and grew uncharacteristically forthright.

"If they're too big to fail, they're too big," the former Federal Reserve chairman said when asked about the dangers of outsized financial institutions.

It was October 2009, and the man who helped make megabanks possible was sounding more like Teddy Roosevelt than the Maestro as he entertained what he called a radical solution.

Charting the ascent of 'the American oligarchs'

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