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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QE has permanently ruined bonds for investors

You used to earn an interest rate roughly inline with nominal GDP growth, even slightly better. Since the Fed started manipulating interest...