Bernanke and the “Too Big to Fail” Syndrome
I am glad to see that the U.S. Federal Reserve and the Bush Admnistration are giving clear instructions on how to succeed in business in America.
Apparently, all you have to do is to make your Company “too big to fail” (TBTF).
Then if anything untowards risks happening to it, Bernanke will step in and save another day. Even if it’s all been your own fault. Even if the Feds have been sitting idly whilst the Company was becoming TBTF.
Directors of TBTFs are surely rejoicing at the idea of unlimited profit opportunities with more or less zero chance of filing for bankruptcy protection, let alone close down the business.
A new wave of acquisitions like there is no tomorrow is surely in order. Obesity does pay, in the US business world.