Why 'too big to fail' leads to costly mistakes.
Nov 23, 2009, Vol. 15, No. 10 • By EMILY ESFAHANI SMITH
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If those companies had been left to die, their bad ideas would have been buried with them. As it is, the ideas still live and are being recycled as banks continue to take opaque risks, reap the short-term benefits, and expect the feds to catch them when they fall.
Emily Esfahani Smith, a Collegiate Network fellow, is an editorial assistant at THE WEEKLY STANDARD.
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