first pass at least, im worried about this it would be oversimplifying but one could maybe tell a story of how everything that has happened in the last ten years is downstream of a breach in an implicit social contract that went down in 2008https://twitter.com/eigenrobot/status/1422384419122208769 …
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I think they could have been done differently, nationalizing the insolvent firms temporarily (using a different word) then selling them off piecemeal to smaller firms. The thing is, if you spare them the natural consequence of bad choices, you need to provide artificial...
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...consequences, such as long-term bans on re-employing their top pre-crisis management . And you have to end Too Big to Fail.
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I think breaking them (Goldman Sachs and others) into component parts was a huge missed opportunity.
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