Thanks to KC Trader for bringing this site to my attention. There are probably a few more gems here but The Warning is the first one I watched.
It's a great piece with many facets.
The first being that government consists of paid morons, the second that you cannot allow the foxes to set the rules in the hen house, and the third, we don't seem to learn from our mistakes.
Also interesting to note they drag out the ghost of Ayn Rand once again to "prove" all her theories are wrong. What Rand's critics always fail to make note of is she would never approve of any government intervention for a failed company. In a capitalist system they must, MUST, go bankrupt.
If LTCM had been allowed to go under maybe we would have learned something then that would have changed the course of the future we have just lived through.
If we as a society deem that an institution truly is "too big to fail" then they cannot be allowed to exist as private companies.
They must be nationalized.
I don't believe they are too big to fail, but it seems everyone else does. After we bail them out and yell at them for a while everyone goes back to sleep until the next bomb goes off.
I'm all for regulating the marketplace and derivatives should only be allowed to trade on an open market, but after that, let the chips fall where they may.