"too big to fail"

Vince · Posted: Wed Feb 04, 2009 5:40 am Post subject: "too big to fail"

Not really sure who said this, or where it came from....but I don't believe that I have read a statement that has more truth to it anywhere.

This needs to be stressed to Politicians far and wide...not that I think they would really take any notice...but if enough citizens jumped up and down about it, then they would have to take some sort of notice.

Anyway...have a read...it sums up the current economic crisis we are suffering world wide.

The new "phrase" running through the financial world is "too big to fail" - what exactly does that mean? I think it means that very rich people got even richer by consolidating viable businesses into huge conglomerates that were harvested, making a very few people obscenely rich at the expense of the everyday citizen.

If the politicians really want to fix the world economy, then the governments that are pouring tax dollars into these entities that are "too big to fail" should require as a prerequisite that these mega businesses should be broken down into small enough units "so they can fail" if poorly run, without taking the rest of the world with them.

Don't let your politicians sweep this issue under the rug and pretend that the issue has been fixed by throwing tax dollars at the problem, the systems needs change, not just our hard earned money dumped into it.

Cheers, Vince