This discussion focuses on the problem presented by too big to fail institutions and suggests remedies. Enjoy!
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This discussion focuses on the problem presented by too big to fail institutions and suggests remedies. Enjoy!
Comments are closed.
I thought somebody should say it is worth the watch for us non-professionals. Much of the exchange is “two perspectives of the same side of the same coin”, but subtlety and detail will be the death of us all.
The conversation does raise the enduring question – in my mind today represented by the AP story (1/11) claiming the “shovel ready” facets of the Keynesian 21st Century Redux accomplished nothing – whether “capitalism” can save itself. The panelists dispute details of procedural justice to accomplish distributive justice. The conversation is always within the assumption that there is an international capitalist class and that nothing now can be done about it.
Talk about cognitive and regulatory capture ….
And though it is late, it is not nearly 4:17 am at my house …
Yes, it’s on daylight time…..
These head scratchers never bother to spell out the consequences of letting the banks fail. I would really like to hear it spelled out in dollars and cents how much of a hit everyman on the street would take if the big banks folded or if the insurers were told to make good. Maybe it’s not as bad as the banksters and their insurers claim it will be for the rest of us.
Why does no one ask why the counterparties on the insurance were not at least given the opportunity to make good on their end of the bargain when the loans went south. Did the fed and the treasury really have to whoosh in right away and put us all on the hook? Warren Buffet, thru Berkshire Hathaway insured a number of these deals. I really have no problem with giving up Berkshire Hathaway to the banks if Warren can’t come up with the cash. Same for AIG and all the rest, if they can’t make good.