Too Big to Fail – Too Dumb to Succeed

It’s incredible that huge corporations like Enron, AIG, etc etc etc etc could fail so spectacularly that they need bailing out, right? On the other hand it’s very OBVIOUS why they failed – they were grossly mismanaged, must have been operating on completely erroneous economic principles, and had been encouraged to ignore all the common sense rules of operation the owner of my local noodle bar (who has not been to Harvard) practices as a matter of survival necessity. Therefore you’d be really interested in what the guy who won a Nobel Prize for Economics has to say: http://www.bloomberg.com/apps/news?pid=20601103&sid=a2aNOdTIAtLc Here . . . → Read More: Too Big to Fail – Too Dumb to Succeed