From Mr Michael Rossman.

Sir, The ongoing “too-big-to-fail” debate goes to the heart of competitive market economies where Adam Smith’s invisible hand is the arbiter of success and failure. Many of the surviving large financial institutions claim that dismantling their gargantuan platforms will adversely affect capital mobility, credit deployment and market liquidity and will lead to general economic retardation. With all due respect (and I have tremendous respect for the talent, ingenuity and relevance of financial organisations), these arguments have been heard before – in Soviet Russia. Gosplan, the state planning agency was the ultimate “guarantor” of efficient allocation of capital since its size, scope and reach enabled the perfect balance of supply and demand. We have all seen where such logic has led to. And the Soviet state was the ultimate guarantor of Gosplan's business practices.