Congress, are Bank of America, JPMorgan and Goldman Sachs "Too Big To Fail"?

So, the question to ask now is, are Bank of America, JPMorgan and Goldman Sachs "Too Big To Fail"?

If they are not - fine. Hopefully they won't fail. But, . . .

If they are "too big to fail", then what does Congress intend to do about this situation in the near future? We should never have had and we should definitely not have in the future, companies in our capitalistic system that are "too big to fail". By definition, they would not be part of our capitalistic system.

I think before any bailout happens that simple question, with likely no simple answer, must be answered. The taxpayer, the small investor, the homeowner and everyone else on main street needs to understand that Congress understands the serious nature of the problem. Congress has allowed this to happen. Congress did not want to do the hard thing and tell folks what could not happen. Congress simply wanted to hand out the cookie jar and candy bowl. Congress has had no backbone for decades.

Kennedy and Reagan were not our two greatest Presidents in modern times because they were great on the economic front.

Kennedy was great because he pushed us to be better. He moved us into the final frontier. Too bad following Presidents did not understand that was just the beginning baby steps.

Reagan was great because the cold war ended on his watch and he played a key part in understanding the history and getting movement that had formerly eaten such a substantial amount of our resources.

We had hoped that the Bush folks understood. They did not. We had hoped that Clinton understood and all he did was preside over the dot-com bust that wrecked so many lives. Bill Gates and Ted Turner may have lost $35 billion and $8 billion on paper respectively, but millions lost their future and their future retirement.

We have no safe place to invest. Fortunately for me - I have nothing to invest. So all I can really do is lose my only asset that remains - my home.

So the question remains, the monsters we have now allowed to get big (Bank of America, JPMorgan and Goldman Sachs), are they "Too Big To Fail"?

If so Congress, what are you going to do about it?