Usually associated with large bank failures, the phrase too big to fail, which is a particular form of government bailout, actually applies to a wide range of industries, as this volume makes clear. Examples range from Chrysler to Lockheed Aircraft and from New York City to Penn Central...

Industry consolidation is a natural process that contributed to the concentration of a small number of large banks. They have both economies of scale and scope. More importantly, these globally systemically important banks (G-SIBs) provide a wide range of both domestic and international services...