I’m reading a Wall Street Journal article right now about AIG, the insurance company that’s been one of the largest recipients of my tax dollars in the form of a government bailout.
I think going forward we should have a mergers and acquisitions law that says two companies cannot combine if a failure of the combined company at some point in the future would be too catastrophic to our economy. Or that a company that grows organically cannot get too large without some checks and balances in place. We should have a getting too big tax.
If one company can bring the whole house down, we should put in regulations to prevent companies from getting so big. It’s like Donald Trump in 1990 all over again. The banks all bailed him out because he got too big to fail. And now I have to see his toupée on TV every week.
