However, in my view, the failure of a major financial institution at a time when financial markets are already quite fragile poses too great a threat to financial and economic stability to be ignored. In such cases, intervention is necessary to protect the public interest.
According to projections from the Bureau of the Census, shown in the shaded area of exhibit 1, the upward trend in aging will steepen noticeably in the next few years. The share of the adult population that is aged 62 and older, now at about 19 percent, is projected to rise to more than 22 percent by 2015.