*Internet Con* is a "#BigTech disassembly manual." It explains how Big Tech got so big (lax anti-#monopoly enforcement, which led to #RegulatoryCapture, which let Big Tech abuse our privacy, #labor rights, and #consumer rights), and how we can use #interoperability so it's no longer #TooBigToFail, nor #TooBigToJail:

https://www.versobooks.com/products/3035-the-internet-con

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@srfnewsrss "Die Risiken sind Geschichte"... Was ist mit den #toobigtofail Risiken?

#TooBigToFail and #TooBigToJail are always the same!
https://en.wikipedia.org/wiki/Too_big_to_fail#Inability_to_prosecute

@gcblasing *nodds in agreement*

If we allow #PrivateProfits, we must also allow #PrivateFailure.

If we only #privatize #prifit but only #socialize #losses, then we turn the system into a #cleptocracy.

Noone should be allowed to become #TooBigToFail and espechally #TooBigToJail per bery concept.

#TooBigToFail

Große Leute dürfen nicht scheitern.

Kleine Leute dürfen scheitern.

#Apple acercándose a los 3 billones de dólares de capitalización. #TooBigToFail.

#Criminals: free to rape, rob and steal with reckless abandon. Zero repercussions.

#Bankers #toobigtofail #Swissbank #creditsuisse #lawsuit

SiliCON Valley ❓Signature ❓F1⃣rst Republic❓
Next ❓❓❓
#TooBigtoFail #FederalReserve #JanetYellen #31TrillioninDebt #FunnyMoney #DigitalCurrency
#InflationReductionAct

It's run by Party Secretary Bezos and his Commissars, who decide which goods are can be profitably made and sold.

Companies are disciplined by two forces: competition and regulation. But a company that doesn't face competition swiftly becomes ungovernable, because its centrality makes it #TooBigToFail, while its monopoly profits make it #TooBigToJail.

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@DrPsyBuffy SC Justice is one of the many jobs in America that are above the law. POTUS is another. And the head of any business or bank deemed #TooBigToFail.

This bizarrely inconstant imagination carries over into *all* of the claims used to justify the SVB bailout - like, say, the claim that if SVB wasn't bailed out, everyone would pile into #TooBigToFail banks like #Jpmorgan. This is undoubtably true - unless (and hear me out here!), regulators were to use this failure as a launchpad for *public* banks, and breakups of #Jpmorgan, #WellsFargo, #Citi, et al.

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SVB, Crédit suisse : le spectre de 2008
https://mensuel.lutte-ouvriere.org/2023/04/02/leconomie-capitaliste-entre-ravin-et-precipice_588676.html

"Ceci n'est pas un krash"
- Christine Lagarde

"Je ne vois pas de risque de contagion en Europe."
- Bruno Le Maire

#capitalisme #banque #toobigtofail

Stanford-Ökonomin Anat Admati ist die wohl renommierteste Expertin für Bankenregulierung. Sie beschreibt, wie alle schon lange wussten, dass die Pläne zur Abwicklung globaler #Banken nichts taugen. Und sie warnt vor der neuen #UBS.

Von @ywegelin

#TooBigToFail #TBTF #Finanzplatz

https://www.woz.ch/2314/das-problem-mit-den-banken/die-abwicklungsplaene-sind-eine-der-groessten-luegen/!TJCXWXKVRF72

Economism says that we can allow monopolies to form and harness them to do only good, enforcing against them when they abuse their market dominance to hike prices. But once a monopoly forms, it's *too late* to enforce against them, because monopolies are both #TooBigToFail and #TooBigToJail:

https://doctorow.medium.com/small-government-fd5870a9462e

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@gwaldby Unfortunately, that's going to take a settlement greater than a mere $1.6 billion...
#TooBigToFail

@datacyclist Diese #Bank ist #TooBigToFail.

Die #CreditSuisse so 2010: "In einer Marktwirtschaft müssen Banken auch untergehen können, ohne das Finanzsystem der Schweiz zu gefährden."

Ehm, ja.... #SchlechtGealtert #TooBigToFail #UBS #CS​

https://youtu.be/V8morbqWG7A​

Die #CreditSuisse so 2012: "In einer Marktwirtschaft müssen Banken auch untergehen können, ohne das Finanzsystem der Schweiz zu gefährden."

Ehm, ja.... #SchlechtGealtert #TooBigToFail #UBS #CS

https://youtu.be/V8morbqWG7A

"Can you believe we have to talk about this shit again?"

https://prospect.org/api/content/9b2071fc-c1a2-11ed-9c3d-12b3f1b64877/ #svb #toobigtofail

That's why SVB's apologists are so unhinged. When they argue that we had to bail out SVB because otherwise depositors would pile into #Jpmorgan and other already #TooBigToFail/#TooBigToJail banks, they excluded the possibility that we'd create *public* banks that would break free of this seeming necessity:

https://pluralistic.net/2023/03/15/mon-dieu-les-guillotines/#ceci-nes-pas-une-bailout

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