Big Players

Via The Austrian Economists, Roger Koppl writes

I think Big Player influences are an important part of how we got into this mess. Clearly, they are a characteristic feature of the current crisis. What do many Washington politicians wish to do in this environment? Increase Big Player influence! We are suffering now from over-politicized markets. Making markets more politicized can only make things worse. In the past, only government entities such as the central bank could be Big Players beyond the short run. A “rescue” that effaces the difference between private and public ownership (by giving the state stock warrants for example) and enshrines the too-big-to-fail doctrine turns the biggest private, profit-seeking corporate enterprises into Big Players.