13 December 2008

How big is too big?

Dan Henninger is a pretty good straight-man.

But this brings me to a serious question. Going all the way back to the Boeing bailout in the 70's and again in the Chrysler bailout of the 70's-80's, to Citigroup today, we keep hearing that some of these regulated institutions are "too big to fail."

Perhaps if a bank or regulated company is too big to allow to fail, it is just too big. After all it is small business, we keep hearing, that creates most of the jobs, and hence wealth, in the country. Why do we keep allowing these huge companies to buy up more and more small companies?

I know, "the market" and all that, but it is not being allowed to work now!

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