How Big Is “BIG”?

Wolf Richter   www.testosteronepit.com   www.amazon.com/author/wolfrichter “Repression” is what Richard Fisher, President of the Dallas Fed, called “the injustice of being held hostage to large financial institutions considered ‘too big to fail.’” He sketched out the destructive impact of these TBTF banks that, as “everyone and their sister knows,” were “at the epicenter” of the financial crisis—“whose owners, managers, and customers believe themselves to be exempt from the processes of bankruptcy and creative destruction.” These banks “capture the financial upside” of their bets but are bailed out when things go wrong, he said, “in violation of one of the basic tenets of market capitalism.” In his speech, “Ending ‘Too Big to Fail’: A Proposal for Re...