The NYT editor weighs in on some knee jerk reactions, undoubtedly prompted by overheated statements heard everywhere. And it reminds America to stand for the freedom, that it says it stands for. Whether that freedom is damning, or even damaging at times.
Some industries are essential to prosperity.
…a bank’s ability to block payments to a legal entity raises a troubling prospect. A handful of big banks could potentially bar any organization they disliked from the payments system, essentially cutting them off from the world economy.
The fact of the matter is that banks are not like any other business. They run the payments system. That is one of the main reasons that governments protect them from failure with explicit and implicit guarantees. This makes them look not too unlike other public utilities. A telecommunications company, for example, may not refuse phone or broadband service to an organization it dislikes, arguing that it amounts to risky business.