TOO BIG TO FAIL

Neil Barofsky, the Special IG for TARP put it well in his latest report: “perhaps TARP’s most significant legacy, the moral hazard and potentially disastrous consequences associated with the continued existence of financial institutions that are ‘too big to fail.’ While he’s right we may be on to “too big to save”. When banks get too big their self-destruction ruins the balance sheet of an entire country.