nomad2112 please don’t misread my comment as having attempted to excuse the Democrats. I rather clearly did the opposite.
Good arguments can be made on both sides of the “too big to fail” matter. But if a company is to be bailed out because it is “too big to fail” then a provision of said bailout should be to break the company down into several smaller companies. No company should remain too big to fail for long.
Unfortunately this didn’t happen, and the big banks learned the lesson that Davies presents.