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Politics : Formerly About Advanced Micro Devices
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To: SilentZ who wrote (422078)10/3/2008 4:33:50 PM
From: combjelly  Read Replies (1) of 1575864
 
"We can't have firms the size of AIG that we have to bail out because they're "too big to fail.""

Excellent point, Z. The phrase "too big to fail" should not be in the vocabulary. If you look at the Panics that were common in the post-Civil War era, most of them had some large company that got caught with its pants down, collapsed and it took the economy with it.

In more recent times, look at what happened to Japan. They went from being feared as replacing the US as the dominate economic power in the 21st century to a basket case for the same reasons. China is walking that path now.

Bottom line, "too big to fail" is a dangerous concept.
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