3 ms·
I remember that song from 2008. I'm still very bitter about it. Fine, be too big to fail. But why do they get treated any differently than a small bank in Kans
by bshipp 5y ago
I remember that song from 2008. I'm still very bitter about it.
Fine, be too big to fail. But why do they get treated any differently than a small bank in Kansas that gets upside-down and needs the FDIC to roll in and take it over?
As far as I'm concerned, too big to fail means nationalized and broken up until they are small enough to not pose a threat to the entire economy. When nationalized because they are on the brink of failure, investors get shoved to the back of the line after all other claimants and wiped out.
I mean, this model has served capitalism well for eons. Why are the self-proclaimed captains of capitalism, Wall Street, the ones who get a free pass to stay in business?
Now I'm all angry again.