Another Example of Too Big to Fail

This article chimes in regarding the banks which are deemed too big to fail. It cites Indymac, and how “The action by the Fed has drawn criticism from many quarters. It has bailed out an investment bank which managed funds for wealthy clients and has let a bank which specialised in mortgage lending fail. This sounds like public support for the wealthy and privileged while poorer people have to face the cold wind of capitalism.” This statement regarding Bear Stearns being too big to fail, and for which a new owner was found, but that Indymac was left hanging out in the breeze, since we were seen as “SMALL” depositors, who would not affect the flux of the markets, and how the US economy is viewed globally. Isn’t that nice?

Read the full story here: http://www.pdxpole.com/wild-parties-and-the-bank-of-england/