主题：【讨论】Too big to fail? 转一段分析 -- aokrayd

The biggest problem is ignoring the chain reaction. But his point is clear. The bankruptcy is not the end of the world, financially it can be fully covered without putting a huge unrest into the society. The too big to fail is simply an excuse to refuse loss to the bond holder, the government has clearly stands with them and let the society bear the loss. His another letter which I also had the link in the post made the point even more obvious.

By allowing the loss to be socialized and then to cut budget to compensate the loss will exactly trigger the following depression. That is happening right now. The loser must loss, that's the principle to allow the whole system to regain health.