Natural selection in action
August 28, 2009
I guess Darwin was right after all:
Banks ‘Too Big to Fail’ Have Grown Even Bigger
When the credit crisis struck last year, federal regulators pumped tens of billions of dollars into the nation’s leading financial institutions because the banks were so big that officials feared their failure would ruin the entire financial system.
Today, the biggest of those banks are even bigger.
If being big keeps you alive, then being even bigger helps even more. And since it worked the first time…
And don’t go blaming the banks for it. They’re responding in a rational fashion to the environment they’re in.
Via Memeorandum.
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