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    Monday
    Feb022009

    Too Big to Succeed!!!!!!!!!

    DateMonday, February 2, 2009 at 01:18AM

    Harsh Reality "Too Big To Succeed" Replaces "Too Big To Fail"


    Sacred Doctrine Flipped on Its Head


    Watch Greenspan concede his "ideological flaw"; turning point in capitalism


     

    The fact is the doctrine of "Too Big to Fail" has failed as a doctrine.  All you have to do is watch Alan Greenspan's tortured testimony about the flaw in his ideology about financial markets.   Citibank, the poster child for the doctrine, has for all intents and purposes failed, AIG has failed, Fannie and Freddie have failed.  Dead banks walking.  The industry consolidation  has left us with four viable national banks (at one time considered money center banks- now an archaic term). Citi, JP Morgan, BofA (now rebranded as  Booba: Bank Officially Owned By America) and Wells Fargo.

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