Government Readies Plan to Seize “Too Big to Fail” Financial Companies
Filed Under: In brief • Uncategorized
“Congress and the Obama administration are about to take up one of the most fundamental issues stemming from the near collapse of the financial system last year — how to deal with institutions that are so big that the government has no choice but to rescue them when they get in trouble. …The measure would make it easier for the government to seize control of troubled financial institutions, throw out management, wipe out the shareholders and change the terms of existing loans held by the institution. ” (New York Times, Monday)
What about when the government is too big?
FEE Timely Classic
“Too Big to Fail” by Michael Heberling
