If we have corps too big to fail?

Discussion in 'Politics' started by uscitizen, Aug 29, 2012.

  1. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,941
    Thanks Received:
    4,791
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    Should we not make taxes so they would penalize large corps for merging with and buying out their competition?
     
  2. eflatminor
    Offline

    eflatminor Classical Liberal

    Joined:
    May 24, 2011
    Messages:
    9,263
    Thanks Received:
    1,402
    Trophy Points:
    245
    Ratings:
    +2,081
    That, or reject the bullshit idea that any corporation is "too big to fail".
     
  3. Jarhead
    Offline

    Jarhead Gold Member

    Joined:
    Jan 11, 2010
    Messages:
    20,554
    Thanks Received:
    2,348
    Trophy Points:
    245
    Ratings:
    +3,286
    there is no corporation too big to fail.
    Sure, many may get hurt if one fails....but it was their choice to allow that corporation to play a major role in their lives.
    But large corporations have been failing for decades.
     
  4. g5000
    Offline

    g5000 Diamond Member

    Joined:
    Nov 26, 2011
    Messages:
    56,171
    Thanks Received:
    9,360
    Trophy Points:
    2,030
    Ratings:
    +24,621
    It is easy to understand why an industrial company needs to be regulated when it comes to the toxic waste it produces. You can't have them dumping drums of poison into abandoned lots where it then seeps into the water table. The belief such a company would properly regulate itself is not only naive but ignorant of the reality that such companies have a history of doing that very kind of dumping.

    When it comes to the toxic products produced by financial institutions, the dangers to society become too abstract for the average person to comprehend. When a broker-dealer is allowed to leverage themselves to the stratosphere in order to produce billions of dollars of ticking time bombs, we cannot afford a regulatory hands-off attitude.

    The problem is that the Invisidible Hand has the memory of a goldfish, and so we need to regulate the care and feeding of that goldfish.

    We already see widescale evidence that Wall Street has already forgotten the lessons of the recent crash. I doubt they ever learned in the first place since the government did not allow them to suffer the consequences of their mistakes, thereby ensuring during the next crash we will be talking about Too Big To Save institutions.

    Not all regulations are bad, though you would think so when listening to the rabid ravings of people who don't know the first thing about financial derivatives. If someone believes the CRA was a factor in the global derivatives bubble, they have disqualified themselves as a cogent participant in any discussion of world finance.

    When our lawmakers don't know up from down or an inverse floater from a savings bond, then we are going to get some bad regulations, and Wall Street will be able to create loopholes in the law big enough to drive the next global meltdown through.

    Dodd-Frank did not even begin to properly approach the regulation of the destructive instruments which brought down the world's economies. So the next meltdown is inevitable.

    Brace yourselves.

    .
     
    • Thank You! Thank You! x 1
    Last edited: Aug 29, 2012
  5. Shelzin
    Offline

    Shelzin Equal Opportunity Asshole

    Joined:
    Jul 15, 2012
    Messages:
    2,575
    Thanks Received:
    355
    Trophy Points:
    63
    Ratings:
    +356
    The only business that the government should have in business, is stopping monopolies. If a business is too big to fail, it's already failed at it's only job in that sector of government.
     
  6. Shelzin
    Offline

    Shelzin Equal Opportunity Asshole

    Joined:
    Jul 15, 2012
    Messages:
    2,575
    Thanks Received:
    355
    Trophy Points:
    63
    Ratings:
    +356
    I too believe that any business that fails... Should fail. And failure should never be rewarded outside of a lesson learned.
     
    • Thank You! Thank You! x 2
  7. waltky
    Offline

    waltky Wise ol' monkey Supporting Member

    Joined:
    Feb 6, 2011
    Messages:
    20,920
    Thanks Received:
    1,792
    Trophy Points:
    215
    Location:
    Okolona, KY
    Ratings:
    +3,895
    First dey's too big to fail, now dey's too big to prosecute...
    :eusa_eh:
    Holder: Banks May Be Too Large to Prosecute
    March 6, 2013, Here’s an unexpected addition to the long list of people who say large banks may be too large to prosecute: Attorney General Eric Holder.
     

Share This Page