59.01 - Too Big to Live: Why Letting Banks Fail Is Actually Good For Real People by Douglas Rushkoff

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“As the financial institutions we have come to rely on appear to topple under their own weight, it's only natural that we rush to support them. These are the banks, investment groups, and insurance firms to which we have outsourced our savings, financing, and investing. They fund our businesses and lend most of our currency into existence.

Were we just a bit more aware of how this dependency developed, however, as well as what it costs us in the long run, we might choose instead to exploit their temporary vulnerability toward very different ends. Indeed, if we had our wits about us, we would seek to put our biggest banks out of our misery, for good.”

Comments

[sss]

watch your spelling...

[Dan Erwin]

Nonsense. If letting a bank fail only meant that the bank failed, that would be one thing. I'd even agree. But that's no longer the case.

[Chaitanya Sagar, Excel Expert]

The government must help banks and other institutions to bail out of the current crisis. They not only help the financial system but also provide employment to a lot of people.

[chi flat irons]

Hey, your posts have inspired me! - I love the way you directly get to the point, and then work outwards. I’ve been trying to do figure out what I want to say about ,that would allow me to do exactly the same thing.