Sheila Bair, dropping knowledge on 60 MinutesWow, so we do have competent people dealing with the financial crisis. I don't have the exact quote here, but Ms. Chairman of the FDIC suggested that financial institutions should not be permitted to become "too big to fail", or rather, so big that they pose a system tic risk to the economy.
Wow.
Thank you.
Now speak up louder and make it happen.
Citibank stocks are under a dollar, but they keep getting bailed out. Where as closures are forced upon smaller community banks when they fail. Is this fair? No, it is not. Seems like the bigger you are, the more you can't lose. Market discipline does not apply to you. The execs still earn millions. Tax payers foot the bill for business to continue. Can we still call what we have free market capitalism?
