Nicholas Kristof: Crony Capitalism Comes Home

Calling for an end to crony capitalism in the United States, Nicholas Kristof at the New York Times writes:

Capitalism is so successful an economic system partly because of an internal discipline that allows for loss and even bankruptcy. It’s the possibility of failure that creates the opportunity for triumph. Yet many of America’s major banks are too big to fail, so they can privatize profits while socializing risk.

The upshot is that financial institutions…