8.30.2009

Too bigger to fail

If the solution to a crisis caused by excess consumption, asset bubbles, and too much debt is more excess consumption, more asset bubbles, and more debt...

then the solution to "too big to fail" must be to make the bad banks even bigger!

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More stuff that broke around 1971

We've noted before  that a bunch of economic trends turned bad when Nixon closed the gold window and we launched into the current pure f...