However, this conclusion should be considered carefully before it is accepted. First, we have 200 years of banking success in this country that tends to refute that assertion. Second, it seems improbable that any other country should be willing or able to expand its safety net to new large and complex banking organizations.
Third, and finally, the U.S. authorities should consider carefully whether it is wise to insure and therefore protect creditors of foreign organizations that operate in this country outside of the U.S.’s prudential standards.