The counter to the too big to fail argument is simply this: We may need rich people, we may need banks (not necessarily true but granted for the sake of argument), but we certainly dont need YOU in particular to be rich and we dont need YOUR bank to exist. Someone will arise to fill that vacuum. The sick, egomaniac hidden implication of too big to fail is that somehow our current crop of rich bankers are the only people on earth capable of doing this job, despite the fact that they did such a bad job of it that they had to rob us at gunpoint to stay in business. And if you read between the lines of the things they say, it seems like they really do believe this. This is even more reason why they should be allowed, nay encouraged, to fail and fail hard, because theyve lost their goddamned minds.
Posted on: Mon, 14 Apr 2014 20:17:13 +0000
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