{"id":1274,"date":"2008-10-22T11:01:39","date_gmt":"2008-10-22T16:01:39","guid":{"rendered":"http:\/\/2parse.com\/?p=1274"},"modified":"2008-10-22T10:51:18","modified_gmt":"2008-10-22T15:51:18","slug":"too-big-to-fail","status":"publish","type":"post","link":"https:\/\/2parse.com\/?p=1274","title":{"rendered":"Too Big to Fail"},"content":{"rendered":"<p>Robert Reich points out the obvious result of <a href=\"http:\/\/robertreich.blogspot.com\/2008\/10\/if-theyre-too-big-to-fail-theyre-too.html\">this crisis of &#8220;too-big-to-fail&#8221; institutions<\/a>:<\/p>\n<blockquote><p>Maybe the biggest irony today is that Washington policymakers who are funneling taxpayer dollars to these too-big-to-fail companies are simultaneously pushing them to consolidate into even bigger companies. They\u2019ve prodded Bank of America to take over Merrill-Lynch and Countrywide. JP Morgan to acquire Washington Mutual and Bear Stearns. And now they\u2019re urging General Motors to absorb Chrysler.<\/p>\n<p>So we\u2019re ending up with even bigger giants, with even more power over the economy and politics, subsidized by taxpayers, and guaranteed never to fail because they\u2019re just &#8230; too big.<\/p><\/blockquote>\n<p>Reich echoes the common sense idea that has been articulated all over the United States &#8211; if they&#8217;re too big to fail, they&#8217;re too big to exist. Perhaps that should be another criteria to judge whether a monopoly should be broken up or not &#8211; whether a company is so large that any of it&#8217;s internal problems would threaten te entire financial system.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Robert Reich points out the obvious result of this crisis of &#8220;too-big-to-fail&#8221; institutions: Maybe the biggest irony today is that Washington policymakers who are funneling taxpayer dollars to these too-big-to-fail companies are simultaneously pushing them to consolidate into even bigger companies. They\u2019ve prodded Bank of America to take over Merrill-Lynch and Countrywide. JP Morgan to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[544],"tags":[888],"class_list":["post-1274","post","type-post","status-publish","format-standard","hentry","category-economics","tag-robert-reich"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p8qcx-ky","jetpack_likes_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/2parse.com\/index.php?rest_route=\/wp\/v2\/posts\/1274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/2parse.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/2parse.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/2parse.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/2parse.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1274"}],"version-history":[{"count":1,"href":"https:\/\/2parse.com\/index.php?rest_route=\/wp\/v2\/posts\/1274\/revisions"}],"predecessor-version":[{"id":1275,"href":"https:\/\/2parse.com\/index.php?rest_route=\/wp\/v2\/posts\/1274\/revisions\/1275"}],"wp:attachment":[{"href":"https:\/\/2parse.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/2parse.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/2parse.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}