Nicole Gelinas has a great piece today in the Examiner on the similarities of MLB keeping the Dodgers in business and the too-big-to-fail financial sector. Her conclusion:

Baseball may be American, but it is not a free market. MLB regulators control which enterprises are allowed to play the game. Teams can’t appear and disappear. “MLB views the Dodgers as one of its cherished crown jewels,” league lawyer Thomas Lauria told the L.A. Times.
Teams can’t miss payroll — and to make sure they don’t, they can’t take on too much debt. “We’re here to protect the team,” as Lauria put it.
McCourt should have known these rules. McCourt knew, too, that when the rules aren’t clear, the commissioner has extraordinary discretion. If McCourt didn’t like these risks, he could have stayed out of this exclusive club.
What happens in baseball is becoming a model for the country.
Companies like the insurer AIG, Bank of America, and General Motors can’t fail. Like the Dodgers, they’re cherished crown jewels. After the 2008 meltdown, the Obama administration followed the Bush White House in using extraordinary powers to treat “important” companies as they saw fit — rather than allowing the rule of law to govern.
This approach wasn’t an aberration of the acute crisis. The Dodd-Frank law gives regulators Selig-like powers to seize large or complex financial companies, whenever officials think that normal liquidation or bankruptcy is too damaging to the economy. Problem is, the U.S. economy is not a pastime.
Finance, in particular, is the part of the economy that allocates capital to all other parts of the economy. Finance needs free-market competition — not an entertaining facsimile of it.