Summers: Financial Institutions Should Be Allowed to Fail

Summers: Financial Institutions Should Be Allowed to Fail
Georgetown University - Lohrfink Auditorium
A year after the economic crisis shifted into high gear, financial scholars and policymakers gathered at Georgetown for the Global Finance Conference presented by the McDonough School of Business and the Financial Times.Larry Summers, economist and the Director of the White House's National Economic Council for President Barack Obama, tells the audience that his concerns remain in commercial real estate and that the availability of credit and capital remain tight, but says there are signs of economic normalization."We know that our economy will be stronger than ever if we commit ourselves to the work that needs to done today," says Summers. "It would be irresponsible for us to not learn the lessons of what is happening."