The U.S. economy could face a similar financial crisis to the one it is emerging from now if the government does not tackle the problem of some banks' remaining "too big to fail," Simon Johnson, an economist at the Massachusetts Institute of Technology, said Monday at the American Economic Association.

The crisis has only exacerbated the problem because of the resulting financial sector consolidation, Johnson said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.