Tuesday, March 31, 2009

Matt Taibbi says ...

8 Words of Wisdom for Week Ending 4/3/2009 #3
If these companies are too big to fail, they're too big to exist. In a capitalist society we can't have a situation where all you have to do to stay in business forever is get so big that whenever you screw up the government comes and bails you out.

That's the reason we had the trust busting and the anti-monopoly laws back in the day and I think that's the reason we have to make sure that these companies are manageable and if they are incompetent and irresponsible that we can just let them fail.
There is nothing American about unrestrained growth and unregulated acquisition. Nothing. It sets up a society that is less Democratic and more oligarchical. Ultimately, I don't believe that we can exist as founded if we are forced to serve at the pleasure of corporate masters. It simply won't work. America will become a third world country.

Let's nationalize these financial institutions and create out of them thousands of smaller financial institutions.

Source - Crooks and Liars

No comments: