Can someone explain this to me....
If the bailout bill last of September 2008 is given credit for saving our economy from complete and utter devastation - why are we now working on a new "fiscal responsibility" bill that outlaws the concept of "too big to fail?"
Isn't that the exact description we used to justify the bailout of GM, Citibank, Goldman Sacxhs, AIG. etc? That they were too big to fail?
So - if we just pass a law that says "there is no such thing as a company that is too big to fail" does that now make it true?
I mean are politicians now so deluded that actually believe they can change reality through legislation. Isn't that a bit like passing a law saying "all high school graduates are now literate?"