Thursday, March 26, 2009

Matt Taibbi makes some sense

on The Rachel Maddow Show:

Well, first of all I'm obviously not an expert on any of this stuff but I think on this one point the logic here to me doesn't seem all that hard to follow. If these companies are too big to fail, they're too big to exist. In a capitalist society we can't have a situation where all you have to do to stay in business forever is get so big that whenever you screw up the government comes and bails you out.

That's the reason we had the trust busting and the anti-monopoly laws back in the day and I think that's the reason we have to make sure that these companies are manageable and if they are incompetent and irresponsible that we can just let them fail.

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