It means, rather, that they are so big, so integral to the Federal Reserve System of over-riding the constitution, so controlling of so much of the economy, so influential with so many politicians, that those politicians will happily, joyously, even casually, sacrifice the lives and fortunes of any (and if necessary, in their estimation) all of us, to prevent those high-flying owners and officers of those banking companies, suffering any degradation in their styles of profligacy.
I think that’s really the sum of it all. Of course in Lehman Bro’s case, the feud between their CEO and Hank Paulson didn’t help the matter either. It will never be known for sure, but there’s widespread speculation (with good reason) that Lehman was punished, not just allowed to fail. Plus, Geitner & Company seriously missed or misunderstood some key data leading up to the Lehman’s demise. Still, the bottom line is, “they” control it, and the ultimate outcome will never be intentionally and primarily in our favor. If we end up winning (or at least avoid getting hammered), it will only be as a coincidental consequence of the true intended outcome.