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Wednesday, April 11, 2012

Regulators Build Too-Big-to-Fail Empire

Regulation has created 'too big to fail' and the government will continue to bailout politically well connected businesses. Of course, that's been the plan since the Federal Reserve was created in 1913.
Dominant Social Theme: These Too-Big-Fail corporations and financial firms must be supported by the government and by the people's taxes. Free-Market Analysis: It used to be in the US that you were on your own, at least when it came to building a business. If it succeeded, great – if not, then ... too bad. But not anymore. Now there are too-big-too-fail companies that are so designated by the US regulatory authorities. These are companies that must be supported by the US taxpayer because if they topple, the system as it is currently positioned will topple, too. This is merely an expansion of the US ideology of empire, so it can't be too surprising. But nonetheless it is further unwelcome evidence that the US has in a sense passed the point of no return. Ther tipping point has been reached. The rulers have seized the initiative. The ruled are being despoiled. The best thing that could happen now would be for the system to essentially disintegrate. It will anyway.
Read the rest here
The Daily Bell

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