Good discussion, especially point 3, which isn’t often made. “Too big to fail” means “too big to be responsible.” In turn this means government will control or share in the control, which in turn means … well, we’ve seen what it means in the cases of Freddie and Fannie.
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Good discussion, especially point 3, which isn’t often made. “Too big to fail” means “too big to be responsible.” In turn this means government will control or share in the control, which in turn means … well, we’ve seen what it means in the cases of Freddie and Fannie.