Wednesday, November 02, 2011

"Small Enough To Fail"

I'm not sure why everybody is so convinced of this.

In the end, the American people are lucky that MF Global was small enough to fail, its riskiness and recklessness absorbed by the bankruptcy process. But with the devastating damage from the crisis still hobbling the economy, relying on luck is not enough.

I mean, I get it, the whole system hasn't come crashing down yet, but we don't really know yet who is out all that money.