Former NYS governor Eliot Spitzer speaks on Yahoo! Finance saying of JP Morgan (the CEO of JP Morgan is Jaime Dimon):

“Jamie’s problem…is he’s running an institution that’s not only ‘too big to fail’, it’s too big to succeed and too big to manage,” says former New York Governor and NY State Attorney General Eliot Spitzer. “The size, commingling of purposes and the lack of management capacity when you get to this scale tells me something is wrong here.”

Here are the numbers:

JPM employees: 261,000; revenue: $90B

New York State employees (full time equivalent): 251,000; revenue (receipts): $132B

Eliot managed this state as governor. Except, maybe he didn’t because it was too big to manage.

What does this say of the Federal government?

I believe Eliot may be correct. Systems rarely behave the way they are supposed to and big systems are even more troublesome. But I doubt if Eliot believes what he says when applied to government. Eliot, you can’t have your cake and eat it too.

-JD Cross

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