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"too Big to Fail," not

Is Iceland an example of what we should have done?

  • Total voters
    10
  • Poll closed .
We couldn't let the US banks fail without global economic meltdown, but we could have nationalized them to punish those who created the mess, cleaned up the banks, and decentralized them while putting the banks back in the hands of many individual private groups, instead of just a chosen few.
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You don't need to punish anyone..

All you need to do is make them publically accountable.

A free market isn’t socialism. We allowed the banks to operate freely. They became (intentionally or unintentionally) linked to our economy in a way that if they failed it would cost you a bunch. Doesn’t sound like socialism to me. Sounds like a free market. A free market allows this, socialism may not permit it.
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The opposite of socialism isn't free market, its capitalism.

You have many forms of socialism that are market based.

Also "free market" is a useless term since its totally arbitrary and capitalism is a government institution.
 
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