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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 we
by 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 agoAnd then they made enough money to pay the government back.
- asmithmd1 17y agoYes, 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