AIG is saved once, and then resuscitated again, because it is judged “too big to fail.” Billions are pumped into General Motors because it also is “too big to fail.”
I say step back and look at what “too big to fail” should have suggested long before the current financial cliff edge was reached: If it is too big to fail, it is too big to exist.
Capitalism rewards successful innovation and efficiency; saving what has rotted is antithetical. I realize, of course, that by the time AIG was infused, Continue reading “Too Big to Fail? Or Too Big to Exist?”
