Why are tax-payers now forced to hand out welfare checks to huge financial corporations like AIG, Bank of America and Citi Group -- corporations that made record profits over the last 8 years?
Because they're too big to fail.
During the Bush administration's "Free Market" era -- the market was freed from rules, regulations and restrictions. Certain banking institutions were allowed to become so big, they're now intertwined with just about every other major business in America -- and around the world.
If allowed to go under, these few giant corporations would likely take the whole nation down with them in a global financial meltdown.
Thanks, George!
So along with writing out welfare checks to these exceedingly large companies, we should write some new regulatory laws.
First and foremost, we must limit the size and scope of all financial institutions. If they're too big to fail, then they're too big to succeed.
No comments:
Post a Comment