Thursday, November 03, 2011

Chart of the day: Banks too big to fail

As the global economy came crashing down and we all learnt the phrase "too big to fail," I had fun with it by threading this into athletics and academics:
The entire football team signed for a macroeconomics course, and none of them did any work at all, and didn't even show up for the tests.
The professor warned them that this could seriously affect their grades and, therefore, the eligibility to play, to which the quarterback answered .... "But, we are too big to fail" :)

But, that is a joke that didn't cost anybody any nickel.

The banks that were too big to fail cost us a whole lot.

This (ht) is how we got to the situation where:

The nation's 10 largest financial institutions hold 54 percent of our total financial assets; in 1990, they held 20 percent.

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