Nature has no sympathy for the human construct of “too big to fail.” What we mean is the taxpayer bailout of the big banks was likely counter to God’s work. Regardless of what Blankfein says, a business that keeps private profits while socializing its losses is profane.
The bailout of the U.S. financial system, by the Emergency Economic Stabilization Act of 2008, took place nearly a decade ago. This is old news. No one, save a small fringe of financial gadflies, still cares about this. But that doesn’t mean it isn’t still important.
Nature has no sympathy for the human construct of “too big to fail.” What we mean is the taxpayer bailout of the big banks was likely counter to God’s work. Regardless of what Blankfein says, a business that keeps private profits while socializing its losses is profane.
The bailout of the U.S. financial system, by the Emergency Economic Stabilization Act of 2008, took place nearly a decade ago. This is old news. No one, save a small fringe of financial gadflies, still cares about this. But that doesn’t mean it isn’t still important.