MetLife, the country’s biggest insurer is suing the government to get the label too-big-too-fail off of them. They claim that the government’s selecting them to be one of the five companies labeled TBTF was arbitrary and not based in fact.
MetLife’s argument seems to be that the government isn’t performing real risk analysis, but is instead assuming the worst of worst case scenarios.
Given that insurer AIG was at the center of the storm in 2007, and given that they would have made the same argument against predictions of their failure before the crash, whatever the court decides, the label seems appropriate.
Right now the economy is being run as a Ponzi scheme with the government making us all the greater sucker by printing more and more money, propping up these companies, and setting you and me up to bear the real costs when these companies unsustainable business models again come crashingto the ground.
The government is incapable of protecting us. It is complicit. It is imperative for every individual to prepare and protect themselves.
And that’s why I’m a proponent of Bitcoin. It is government free money that can’t be controlled, censored or confiscated. It is the future.