theobannion

European Banks: Too Big to Rescue?

Excellent article. The idea that we allowed banks and companies in other industries to get "too big to tail" gives me vertigo. And anyone who doesn't question the dynamics of our so-called democracy is either in a deep coma or brain-dead.

Your article puts the problem in much needed perspective. Ours isn't the first era in which private interests were allowed to grow more powerful financially than the coffers of monarchs. Recall that the Fuggers lent money to kings and that DuPont & Morgan interests got away with attempting a coup d'etat against FDR. Too big to fail, to prosecute, and if your analysis is correct, to save.

Best,
SOB.