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Wednesday, October 15, 2008

"Too big to fail"? Shrink it

Short term we are going in the "wrong" direction -- banks too big to fail are getting even bigger, government bureaucracies are getting larger / more intrusive.

Good thing we have "conservatives" in office (pause for derisive laughter).

Assuming this is necessary and it works, we will need to unwind it.
If some financial institutions are "too big to fail", then we need to make them smaller once we are out of the immediate crisis. This will make the breakup of AT&T seem simple.