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Monday, September 22, 2008

Too Big to Fail

The takeover by Bank of America of Merrill Lynch may be the best short term solution (Lehman files for bankruptcy; Merrill is sold, New York Times, September 15, 2008: A1).

In the long term it is unlikely that the cultures of two so very different organizations can be melded into a coherent whole. Even if they are successful, aren't we just building a company that, when the next financial crisis hits, will be "too large to fail."

Sent to New York Times

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