Big isn’t bad, banks tell Fed

[Jack Rabbit]

7. Yes, it is

Too-big-to-fail banks have no incentive to avoid losses incurred through taking unreasonable risks. They take the risk, lose a barrel full of money and then cry to congress, which in joins them in robbing the taxpayers at gunpoint. This is not a sustainable business model.

Big is bad. It's also unmanageable and inefficient. Let Goldman Sachs and J. P. Morgan go under. If Mr. Blankfein and Mr. Dimon are concerned about their future, we can arrange for them to retire to some very safe and secure government housing. That would be a better use of the taxpayers' money than bailing out too-big-to-fail banks over and over again.