Let me see if I understand this. If this council deems a firm “systemically important”, it means they’ve been successful in business to the point where they are a market leader in their class, and the economy might meet certain doom if it were to fail. Okay, so if a firm is put on that list, then the Feds concern themselves to an even greater degree with that firm’s financials and operating practices, in which case, so much more regulation is imposed on that firm that it will become exponentially difficult to remain a market leader and thus its “systemically important” label will cease to be. Nothing like someone coming in and saying, “I’m with the government and I’m here to help.” No offense, Feds, but I think Snoopy can manage his doghouse just fine.
Let me see if I understand this. If this council deems a firm “systemically important”, it means they’ve been successful in business to the point where they are a market leader in their class, and the economy might meet certain doom if it were to fail. Okay, so if a firm is put on that list, then the Feds concern themselves to an even greater degree with that firm’s financials and operating practices, in which case, so much more regulation is imposed on that firm that it will become exponentially difficult to remain a market leader and thus its “systemically important” label will cease to be. Nothing like someone coming in and saying, “I’m with the government and I’m here to help.” No offense, Feds, but I think Snoopy can manage his doghouse just fine.
Well said!
Amen! Well said! I’m trying to think of something to add, but you said it loud and clear. Thank you!