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> Peirce had opinion editorials published in The New York Times in 2012[19] and in 2013,[20] wherein she said it would be more sensible to let the market pare t
by jgalt212 3y ago
> Peirce had opinion editorials published in The New York Times in 2012[19] and in 2013,[20] wherein she said it would be more sensible to let the market pare the big banks down to size rather than nationalizing them.
I that's been proven to be false. Gotta be big like Bofa. Their bond holdings market to market losses are off the charts, but it just doesn't matter because they are too big to fail.
- tanseydavid 3y agoThe original meaning of "too big to fail" in the context of banks was NOT to suggest they had become impervious to failure, due to their sheer size or any other reason. The original meaning was that if one these banks did fail, it would take so many other entities down with them, that any means of rescue could be justified. They could not be permitted to fail.