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So what's going on with bank reform, anyway? I haven't really kept up. I distinctly recall Bernanke saying, "too big to fail has got to go" around the time of

• asmithmd1 17y ago
  Good question. Since the Government bailed out the banks that were too big to fail they have midwifed the merger of a couple of those banks so the banks that were too big to fail are now even bigger.
  • jrockway 17y ago
    And then they made enough money to pay the government back.
    • asmithmd1 17y ago
      Yes, government backed trusts can make lots of money - see: railroads and phone system. That does not mean that is the best state of affairs for most other businesses. I am pro free-market competition, but the trouble is most big businesses are not. Do you seriously think it would have been a good idea to have exactly one phone company in the US during the dot com boom? Can you imagine how long it would have taken to get a T1 provisioned from Ma Bell? Instead because the government sued AT&T and broke them into 7 smaller companies and forced them to open the CO to competitors we had many companies to choose from. I say companies should be able to do whatever they want as long as they are small enough to fail - i.e. I am not on the hook for paying off their bad bets