#316 - Bruce Schneier on A HACKER'S MIND
The Sport of Life: Chats w/ Comedians, Filmmakers, Sports Figures, Musicians, & Intellectuals
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Too Big to Fail: A Hack
Too big to fail is a hack in the market system, says Julian Zelizer. It allows companies to externalize risk by making themselves too critical for government bailouts. The failure of a company is now has a huge externality, writes Zelizer. If you're too big to fail, you're basically getting an insurance policy from all of us against your bad decisions because we will bail you out.
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