Saturday, September 20, 2008

Best Line I've Seen Today:

Reed Hunt at TPMCafe, quoting Prof. Richard S. Tedlow:

"One might also add that any business that markets itself as 'too big to fail' is also too big to be unregulated."

I'm starting to think that—to use the language of "class warfare"—America needs to "let a thousand AIGs bloom". All those banks that are rapidly scooping up other banks to become too big to fail in anticipation of big juicy bailouts? Either regulate the hell out of them, or straight-up deprivatize them.

"Invisible" or not, the hand of the market might need a bit of slapping down.

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