The latest EconTalk episode is Gary Stern talking about his book, Too Big to Fail and the role government rescues played in the financial crisis.
Gary Stern on too big to fail
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My brother in law bought shares in WaMu just before it went bankrupt, thinking that the Fed would bail it out.
He didn’t factor in the fact that the Wall Street folks running the Treasury and the Fed didn’t care about firms — and shareholders — outside of Wall Street and unconnected with Goldman Sachs.
Your B-in-L thought they were too big to fail. In fact, they were too small to care about.