• Progressives undermine their cause by attributing free-market principles to their opponents 
Dean Baker, Boston Review Capitalism  | Banks such as J.P. Morgan and Citigroup were arguably too big to fail even three decades ago, before growth and mergers expanded their size several-fold. In the last decade they grew so big that their collapse would undoubtedly have jeopardized the health of the financial system. Everyone knew that, so creditors could lend them money without concern for the banks’ soundness: the government, ultimately, would stand behind their debts. This has nothing to do with Ayn Rand’s libertarianism. Huge financial institutions simply took advantage of taxpayers by getting insurance without having to pay for it.     Share on Facebook