The one thing we are not hearing from Congress or from incoming president Barack Obama in the current economic crisis facing the country are the words “anti-trust” and “public ownership.”
From the moment the crisis first struck, with the near collapse of AIG, the mantra has been that companies like AIG, Morgan Stanley, Merrill Lynch, Citibank, etc.--and more recently General Motors Corp. and Ford--are “too big to fail.” That is, it is argued that these companies are so huge that if they were to collapse into the rubble they deserve to be, it would damage the nation irreparably.
The question is, if that is genuinely the case, why were they allowed to be that big in the first place, and why aren’t we rethinking that policy?
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