Too Big, Too Important
When Fannie and Freddie went down it was said they are too big to fail. When AIG was nationalized it was said they are too important to fail. Where is the Justice Department? Why is anti-trust provisions not enforced? That kind of power is not characteristic of America. Monopolies is not America. No business should be too big or too important to fail!
The credit panic of 2008 has consolidated commercial banking. Most recently Citigroup absorbed Wachovia. Now, only three big banks stand alone in power and size. Consolidation was a big factor in our losing the automobile business. Monopolies make you real lazy. Real competition must be restored and maintained.
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