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by SideburnsOfDoom
6 days ago
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> the issue with too big to fail is that it can equivalently be rephrased as too big to learn. it is certainly phrased that way, i.e. "There Is No Alternative (1) to bailing the banks out, we can't just let them fail - all their employees will be jobless tomorrow!". It's not true though, there are plenty of ways to inflict non-lethal financial penalties on a bank to help them learn better, or take them under governance in whole or in part (2) for orderly disposal. But it has to be politically feasible. Which is harder when the ordinary voters aren't the ones that have the most influence over outcomes. 1) AKA "TINA", "The true meaning of TINA isn’t “No alternative is possible,” but rather, “Stop trying to think of an alternative.”" 2) https://www.bbc.co.uk/news/business-42184373 |
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