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It sounds like the U.S. in the 1980s leveraged buyout boom: European companies are discovering what massive leverage can do to invigorate the return to shareholders.
He points to their massive leverage: outstanding guarantees amount to 150 times capital.
Other banks, especially R.B.S., still have a "massive leverage burden," he said.
With the massive leverage offered by access to TV audiences you risk crowding out investment by anyone in the private sector".
"The government should never forget they have massive leverage over companies that depend on their unique relationships with the government to make money," says Ed Mierzwinski, consumer program director at the U.S. Public Interest Research Group.
Look what's happening to Wall Street and its massive leverage to the credit derivatives market.
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"Massive leveraging created massive financial wealth, and that's over," said Orin Kramer, a partner at a hedge fund called Boston Provident and chair of the New Jersey State Investment Council.
And so part of that has to do with the effects of regulation that will inhibit some of the massive leveraging and the massive risk-taking that had become so common.
It has now become widely recognised that perhaps the greatest economic policy failure in the UK, US and eurozone during the 16 boom years before the crash of 2008 was the explosion of borrowing by banks, households, businesses and governments - or, to use the jargon, the unprecedented and massive leveraging up of entire economies.
The causes of the crises have been reported: years of lax attention given to massive leveraging of debt, laissez faire government regulations and the seemingly willful ignorance of Wall Street's risk assessment firms directly led to that precipitous moment. .
This massive new leverage, along with a new framework of company law, could kick-start " capitalism with a conscience".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com