Will Uncle Sam Expand “Too Big To Fail?”Larry Doyleupdated Feb 20, 2013TweetAt GET.com we maintain complete editorial integrity on our content & provide transparent & unbiased information. Companies don't pay us to include their products although we receive a compensation when you successfully apply to products from our partners. See how we make money here.At GET.com we maintain complete editorial integrity. There is not even one credible individual in the world today who would believe that we do not still operate under a “too big to fail” model for our banking industry. We now know that “too big to fail”also means “too big to regulate” and “too big to prosecute.” Free market capitalism is dying a slow and steady death in the process. Might we ever get out from under the heavy burden of this model? We can only hope. Yet I awaken this morning and vomited my coffee as I read in the WSJ, Should the government backstop even more of the financial system than it already does? Sure, if you love a mix of crony capitalism and socialism, wave it in, right? Who is running this up the flagpole? Must be some crackpot down and out and pissed off at America, right? Gotta be. Let’s navigate and serve this knucklehead a healthy dose of ‘sense on cents’. So who is it and to whom might he be spreading his crony socialist propaganda? Rut – ro….the “too big to fail, regulate, prosecute” mantra is viewed as . . . . . . a possibility being debated within regulatory circles in regard to nonbank financing activity and was recently raised by the head of the Federal Reserve Bank of New York. Folks, here we go. The mere fact that the head of the most powerful branch of the Federal Reserve and his cohorts within the financial regulatory system would view an expansion of the “tbtf” model as even a possibility is an indication of a number of very troubling realities including: 1. “Too big to fail” defines our current banking system. 2. The Federal Reserve is not only running our banking system but in turn our country. 3. Free market capitalism is fading. 4. The power of crony capitalism is becoming more deeply ingrained. 5. Uncle Sam is gaining power and private enterprise is losing power. 6. The American dream suffers under the “too big to fail” model and will continue to suffer until that model is DEAD AND BURIED for good. New York Fed President William Dudley may believe that some degree of short term gains can be produced by expanding Uncel Sam’s backstop. He is wrong. We need to embrace free market capitalism in conjunction with robust (that does not mean excessive folks) regulation and aggressive regulators so the cronyism is exorcised. Capitalism did not fail. Our government failed by allowing corrupt cronyism to infiltrate our economy. Get rid of the cronyism, provide proper protection of private capital, prosecute the miscreants appropriately and WATCH AMERICA SOAR. I guess I should now go back and clean up the kitchen floor. Navigate accordingly.Larry DoyleIsn’t it time or overtime to subscribe to all my work via e-mail, an RSS feed, on Twitter or Facebook. I have no business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.