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Discussion: (3 comments)

  1. Vic Volpe

    Interesting article — and I agree that our financial institutions are TBTF. But, Wall Street finances many operations all over the world; so, I do not think comparing them with other countries’ banks gives a good view of proportion. That’s one reason/benefit of having the dollar as a reserve currency for international trade and it’s another reason we attract international investment. We may be TBTF, but we also have the most ‘efficient’ use of the investment dollar for capital spending.

  2. how big is too big?

    when the CEO calls the Treasury Secretary with instructions…

  3. NickDanger

    I talked with a good friend of mine from WS over the Christmas holidays. First time I had seen him in years (we live on opposite sides of the country). He’s a big guy out there. His bottom line confirmed my understanding. The banks love being big. It helps them smash smaller banks. They can write rules with govt that helps them and eliminates smaller competition. They love govt socialism. They think the great unwashed are unwashed and need “guidance.”

    Bottom line – TBTF is symptomatic of the continued disassociation of the ruling elites from the common man. Breaking up the banks would be huge step to removing the power blocks that makes the DC/NY corridor the maelstrom of greed that it currently is.

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