Over and over we hear the call to save one multi billion dollar banking institution after another. The reason is generally given in a high brow, "You wouldn't understand" way. When pushed for explanation as to why these companies are not allowed to fall to the side as the free market economy rights itself all they say is "They are too big to fail."
Too big to fail?
What the Hell does that mean?
If that is the true reason then why make the auto companies wait? They want the money to do exactly the same thing the banks are doing. Saving their own ass and continue to pay the huge salaries they have skimmed for themselves over the years all the while the company continues to falter around them. They have thousands of more employees than the banks so are they not too big to fail? If so, then how do we define too big?
To tell you the truth I could give a rat's ass less if these companies fail or not. Trust me, if Citibank fails, if Ford fails, if any of these companies fail there will be another company to step in and take over or just start a new company. Too big to fail generally means that they never truly fail they just change from year to year. Sometimes absorbing another company, sometimes being absorbed. I am CERTAIN that the failure of these companies may actually have a stimulating effect on our economy in the long rung. It is VERY possible that these companies have gotten so big they have stagnated and for any growth to happen for the rest of us it/they would have to fail.
Yes I am not a financial counselor nor am I an economic genius.
So go a head and do your self involved, turn up your nose "Tsk-tsk". Then you can go into your long, "I know what's best with you and the economy so go sit in front of the TV and be a good boy."
But guess what, I am willing to bet these so called financial/economic advisers are so wrapped up in the world of finances that they may be unable to see the benefits of failure. After all some of the greatest success stories we have had in our history were born from failure. But then maybe these financial experts know something history has not repeatedly taught us.
Or,
Maybe, just maybe these guys are just scared to fail like everyone else.
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