Wall Street investment companies have become public companies

The “too big to fail” view of private sector banks and other financial companies has encouraged reckless lending and investment policies among too many financial institutions. This safety net should be removed, Marc Faber argues. Back in the “old days”, Wall Street investment companies were partnerships that risked their own money. But now they have become public companies, which risk other people’s money, and leave governments - and taxpayers - to pick up the pieces when trouble strikes said Dr. Marc Faber during the EPCA annual meeting a couple of days ago