David A. Moss, Harvard’s McLean Professor of Business Administration, has written an excellent article on what the federal government must do [to try] to prevent another explosion of systemic risk in the financial sector. He argues that those banks that are too big to fail must be separately, and transparently, regulated. This would, among its other benefits, reduce the incentive for banks to grow ever larger! The article should be ‘required reading’ for all those interested in keeping the economy between the ditches.