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Against Monopolydefending the right to innovateFinancial Crisis |
Monopoly corrupts. Absolute monopoly corrupts absolutely. |
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backFinally... the idea that "too big to fail" is just too big is gaining traction, with recent comments from Alan Greenspan, Paul Volker, and Mervyn King. Simon Johnson over at The Baseline Scenario has a good summary. [Posted at 10/22/2009 08:58 AM by Stephen Spear on Financial Crisis Comments That banks should not be too big to fail is a pleasant lesson for the new aristocracy to ponder over in the luxury of the trillion tuition fee the taxpayer has had the largesse to scrape together.
No worries. It shouldn't take more than two or three decades before the taxpayer can afford to fund another, similar lesson. Is hyper-embezzlement a sufficient term for this egregious financial misappropriation? [Comment at 10/22/2009 09:18 AM by Crosbie Fitch] Submit Comment |
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