The progressive darling and Rolling Stone contributor said that breaking up the banks “should be the Holy Grail of activists goals” in an Ask Me Anything on Reddit Thursday.
“Again, to repeat, breaking up the banks is the big thing,” he typed to Reddit users. “That should be the Holy Grail of activist goals. Everything flows from the TBTF problem. If that can be accomplished, we’re off and running.”
It’s no surprise that Taibbi is pushing for an end to TBTF — that stands for too big to fail, by the way — it’s been a pet peeve of his for some time. He joins a variety of other big names in finance, including famed author Michael Lewis and Britain’s Treasury Chief George Osbourne, in calling for an end to an era in which banks are so huge their collapse could bring down the economy.