As I argued more than two decades ago, we should aim for a banking system without TBTF, but that means we need a banking system simultaneously devoid of unfair subsidies and free of overly-harsh regulations.

FORBES: Bankruptcies, Bail-Outs & Bail-Ins: The Good, Bad & Ugly Of Bank Failure Resolution

"A well-functioning free market is not devoid of laws, " says Matthew Slaughter of the Tuck School of Business.

WSJ: In Bangladesh, the Slow, Tragic March to a Better Life