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While I am a morbidly curious individual who would love to see one of these “too big to fail entities fail”, I don’t know that I share your confidence. And I d
by techostritch 2y ago
While I am a morbidly curious individual who would love to see one of these “too big to fail entities fail”, I don’t know that I share your confidence. And I don’t know that it’s taking responsibility either, if you let them fail, the pain is sharply distributed unevenly away from the people who caused the issue, then if you just prosecuted them.
- _heimdall 2y agoDidn't we collectively allow Boeing to do this though, and allow banks to give us the mortgage crisis? We individually don't regulate these companies but we do elect those who do and we choose to be customers for those companies. Shit rolls downhill, unfortunately when a company is allowed to dig such a massive hole those left standing have to deal with the aftermath of what happened on their watch. Papering over the problem can seem to fix it for now but it completely misses the root cause. Banks walked away form 2008 largely unharmed in the long run, and more importantly the industry is just as capable today of causing a similarly huge problem as they were then.