The head of the Federal Deposit Insurance Corp. says the government's strategy in the financial crisis of bailing out huge institutions deemed "too big to fail" must be replaced by a new model.
Umm ... isn’t that what we taxpayers have been screaming for months now? Let ‘em go bankrupt; then start over by assembling the pieces into smaller, more diversified, more nimble entities.
With that experience, we can then tackle the real problem: state and federal government. They’re also “too big to fail.”
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