tag:blogger.com,1999:blog-53246864840716464.post5903458429963551916..comments2024-02-29T00:46:38.800-08:00Comments on Washingtons Blog: Former FDIC Chief: Don't Nationalize Banks, It Won't WorkUnknownnoreply@blogger.comBlogger3125tag:blogger.com,1999:blog-53246864840716464.post-37827263948877352492009-02-24T09:33:00.000-08:002009-02-24T09:33:00.000-08:00My favorite Senator, Bernie Sanders, I-VT has said...My favorite Senator, Bernie Sanders, I-VT has said "If a company is too big to fail, it is too big to exist."<BR/><BR/>What ever happened to the anti-trust laws? Did they get repealed, or did the government just decide it was too devastating to campaign funding to enforce them?Charles Dhttps://www.blogger.com/profile/02975241234146573609noreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-33909977599315125582009-02-24T08:30:00.000-08:002009-02-24T08:30:00.000-08:00Why is any corporation in this country "Too big to...Why is any corporation in this country "Too big to fail"? Surely that's one of the reasons for the economic problems we're having right now? What happened to not allowing monopolies to exist? no corporation should be alowed to get "too big to fail"! Period!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-63997302052686145222009-02-24T06:24:00.000-08:002009-02-24T06:24:00.000-08:00I think I leaders should recognize Isaac's stateme...I think I leaders should recognize Isaac's statement as close-minded and narrowly conceived. He is thinking squarely inside the box.<BR/><BR/>First, the "too big to fail" banks need to shrink dramatically. We can allow that to happen via bankruptcy (obviously stupid) or we can funnel billions into them to mask their true state for awhile. Why not shrink them intentionally and carefully under adult supervision?<BR/><BR/>Second, there is an exit strategy as long as you don't assume the big banks have to stay big. Citigroup could be broken up into an investment bank, an insurance company, a credit card company and several regional banks. Each of those would likely find a buyer.<BR/><BR/>Third, let's understand that the board members do very little to begin with. The senior managers have demonstrated their incompetence. Obviously the unlimited compensation of the last decade has not been helpful to the industry. My guess is that there are several bank executives with actual competence that would be happy to run Citi or BofA for a year or so even for the poverty wage of $500K.Charles Dhttps://www.blogger.com/profile/02975241234146573609noreply@blogger.com