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Wow, Greenspan just won a bunch of points in my book. > while “just really arbitrarily breaking down organizations into various different sizes” goes against h
by jeromec 17y ago
Wow, Greenspan just won a bunch of points in my book.
> while “just really arbitrarily breaking down organizations into various different sizes” goes against his philosophical leanings, something must be done to solve the too-big-to-fail issue.
I have the same sentiments.
> “Failure is an integral part, a necessary part of a market system,”
I agree.
> “If you start focusing on those who should be shrinking, it undermines growing standards of living and can even bring them down.”
I think his proposal is one we should act on.
- mcantelon 17y agoThat's kind of like an airplane pilot getting drunk and crashing a plane, killing hundreds, then saying publicly that pilots shouldn't be allowed to drink.
- roundsquare 17y agoAlthough, to make the analogy complete, you have to start with the assumption that people didn't know airline pilots shouldn't be drunk while flying. It seems obvious in hindsight but at the very least, this pilot thought drinking on the job was ok.
- mcantelon 17y agoPretty much every bubble in modern financial history, including the great depression, resulted from easy credit with nothing behind it.