From ETF Daily News
By Jeff Nielson
''It was encouraging to see a recent article in
the N.Y. Times arguing for the necessity of smashing the Big Bank
Oligopoly in the U.S. Apparently not everyone has forgotten the basic
fundamentals of economics.
Going all the way back to Adam Smith; all the economic theorists have
acknowledged a central premise of capitalism: oligopolies (and/or
monopolies) are predatory, parasitic abominations which can never be
allowed to evolve in our economies. Or, as I put more succinctly in a previous commentary, “too big to fail = too big to exist.''