What???!!! Sanity in the marketplace? J.P.Morgan Chase & Co. President Jamie Dimon says that no bank is too big to fail. Hallelujah!
If banks wants to get involved with weird financial derivatives and pay their executives big bucks, okay. But when everything goes boom like last October, and their mismanagement is exposed, they also have a right to fail and should be allowed to do so. Props to executives like Dimon and companies like Ford for honesty and logical consistency.
If you don't have the discipline of the marketplace weeding out poorly-run businesses, then you have crony capitalism, which is pretty much what is going on now. If you pay your political contributions, you survive the though times with government handouts; if you don't - well sayonara! In the long run the losers survive and that doesn't help this country in the global marketplace.
news.yahoo.com/s/nm/20091113/bs_nm/us_jpmorgan_ceo
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