Too Big to Fail?
This phrase doesn't just apply to banks.. It applies to any plan, process or institution that is critical to the well-being of the Nation. ("critical" implying that its 'failure' would have unacceptable consequences to the Nation.)
"Too Big" is not an adequate phrase - Too Critical or Too Vital is a better choice..
"Too Critical to be allowed to fail" is what we should be addressing..
The solution to 'too big to fail' is NOT more regulation.. This solution might help in some cases but cannot be relied on. Attempting to regulate the major banks is a joke.. That will not stop the next financial crash.
The only solution is to remove whatever it is that is 'too big to fail' from private hands!
You can't legally or practically prevent private bodies from taking extreme risks! You can't prevent them from Failing - THAT'S WHAT THEY DO. Private corporations have a constitutional right to collapse and sell the assets to North Korea or who ever they choose. The Private sector MUST NOT hold any assets that belong to thousands of citizens - or that are 'critical to our prosperity'.
We are NOT proposing 'more regulation' alone. We are proposing that anything that is too big to fail' be removed from private hands (and from government bureaucracy) and be treated like the Postal Service or the NAVY. (Owned by the people; Managed by 'worlds best'; Free from significant political interference)
"Too big to fail" also implies.. 'Too Critical to Fail' or 'Too Critical to be knowingly compromised'
This expanded definition includes many things that Multi-nationals (and therefore politicians also) get extremely rich from..
Many 'Wall Street' institutions were obviously 'Too Big to Fail'.. Many experts were warning us for a decade before the crash. Both sides of congress did nothing because both sides receive insane amounts of funding from Wall Street.
Even now, while the rubble is still falling, politicians are refusing to debate the "too big to fail" issues. They have ONE scapegoat "Lehman Brothers" and they want everyone to be satisfied with that.
This expanded definition obviously requires more areas be considered and investigated. And that would be strenuously opposed by every side of politics because it would expose the corruption, price fixing and political "gifts" and Lobby pressure that are endemic in these areas.
'Critical to Life' industries..
If 'Critical to Life' industries are included in "too big to fail" and partly removed from private hands, this will seriously affect the revenues (and political gifts) from several massive industries..
It would however, allow many problems to be addressed..
* Medical research where progress is being threatened by oppressive patents - where research laboratories with 'promising ideas' are prevented from contributing to the development!
* The obscene prices of life-saving medical drugs. Thousands of lives are lost each year because $10 drugs are priced at $1000.
* Sections of the 'human genome' are being frantically patented by private bodies to prevent government laboratories from developing any 'miracle cures' based on those sections.
These legal but immoral practices are obviously "knowingly compromising something that is 'Critical to Life'!wip..
Original article: Dec-2010; Updated Jan-2013