Too Big to Fail versus too small to matter
I was watching "Too Big To Fail" and an exchange caught my attention.
Cynthia Nixon, playing the press liaison for Secretary of the Treasury Hank Paulson has just had the situation of AIG explained to her. She asks:
What do I tell them when they ask why this wasn't regulated?
William Hurt, as Hank Paulson answers:
No one wanted to. We were making too much money.
Hank Paulson, as head of Goldman Sachs, lobbied heavily to keep the Collateral Debt Obligations, Mortgage