Should we limit bank size?

Columbia Business School professor Charles Calomiris says there would be some issues if we were to do so in Tuesday's WSJ. Calomiris points out that financial firms need to be larger than ever to (1) serve the needs of large global clients, (2) take advantage of economies of scale and scope, and (3) make global financial markets more integrated and efficient. He concludes:

We can solve the too-big-to-fail problem without destroying global finance.