this post was submitted on 09 Aug 2024
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Too big to fail, only so many aerospace companies and a LOT of US jobs riding on them.
Then nationalize it?
If they're too incompetent to exist within the bounds of the free market, but too important to the national interest to fail? You can't have your feet in two canoes.
I'm not telling you what I think should happen. I'm just telling you, what in reality, is going to happen. Companies like Boeing are heavily protected by Congress. They have a lot of representatives and senators in their pockets due to the placement of their facilities.
That phrase is a clear acknowledgement that the company has become a danger to our national interest. Therefore any company that is "too big to fail" should be broken up into smaller companies whose failure isn't dangerous.
Yeah, when I use it I'm not granting a compliment. You won't find too many people in Congress with both the power and will to go after them.