Monday, March 30, 2009

As simple as this

Jerry Pournelle:
"Any bank which is 'too big to fail' is too big to allow a free market to function."


Webutante said...

Interesting to read. I was at Heritage today and the same thing was discussed. Nothing should be too big to fail and when it is, then we need to let the buyer, the employee, the stockholder and the public beware. Free markets should always allow an unprofitable business to fail, no matter what the size. Too bad this seems to be ancient history.

gcotharn said...

Other readers be sure and check out Jane's blog for report about her Heritage visit.