Niall Ferguson on the state of the US financial system.

This is a very interesting video interview from BNN with Niall Ferguson an economic historian at Harvard who argues that in many ways the financial system is even worse than before the crisis. For instance now financial institutions are even more consolidated so there a few huge institutions at the pinnacle of the system that have now been declared too large to fail. As a result there is no incentive for them not to engage in the same risky behavior as before to reap quick profits since the government promises to bail them out. Meanwhile more and more smaller regional banks will fail and the big banks just become bigger.

The U.S. financial system is in an even more precarious position than before the economic crisis began, according to Niall Ferguson. Watch BNN's indepththis interview with the renowned historian and Harvard University professor. If the saved video does not work you can view it at this site.