“Too big to fail” is an idiotic concept that deserves no place in a free society.  This concept implies that a) poor management, bad decision-making, and excessive risk-taking should not necessarily lead to business failure as the natural and cleansing end; b) the state must decide who is “too big” and who isn’t; and c) the state must swoop to the rescue and underwrite the failure of every behemoth that fits this category.  This raw, arrogant, exercise of power by the state should be anathema to a free people.  And who foots the bill for the rescue?  The producer:  the man who has worked and contributed his sweat and tears to the betterment of his family and society; the man who has had nothing whatever to do with the imprudent decisions that caused the “too big to fail” company to fail.  If it’s not immoral to force one man to pay the consequences for another’s failures, then morality has lost all hint of meaning.

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