John B. Taylor: “A lot of the concerns about too-big-to-fail and the anticipation of bailouts is that it does give advantages to certain…”

Do you want to live on $7.25 an hour? Try that out.

The whole idea of bailouts is that people get advantage and that it creates huge risk-taking and huge moral hazard.

I think we learned so much about what worked in monetary policy in the 1980s and 1990s until recently, so go back to that general style of policy as soon as possible.

This notion is absurd. We cannot simply wish our problems away.