Wednesday, April 14, 2010

"Too Big" to fail

It's not that some individual banks got too big to fail.

It's that finance got too big, too embedded in everything, so that if finance fails, the whole economy fails. That's the problem.

The same problem makes economic failure likely. Finance is too big.

Oh, and by the way, we did fail. We called it a "financial crisis."

1 comment:

The spam filter's been acting up again lately. I'm aware, and checking it often.
Oh, what fun they must have with this at Blogger!