Top Treasury Official: 'Too Big to Fail' Bailouts Are Over (N.B.: LOL)

``"A common use of the too-big-to-fail shorthand is the notion that the government will bail a company out if it is in danger of collapse because its failure would otherwise have too great a negative impact," Miller, the Treasury's undersecretary for domestic finance, said in remarks prepared for a speech in New York late Thursday. "With respect to this understanding of too-big-to-fail, let me be very clear: It is wrong."'' -- Just like it was wrong to assume that Fannie and Freddie would be bailed out, eh??