So you prefer contagion, bail outs and collusion when a large gateway/exchange goes down?
The incentives in Ripple push bail outs, debt and encourage other holders of Gox IOUs to turn a blind eye to Gox's trouble's, giving them more credit lest a default leads to loss of Gox IOU values throughout the system. This is what many critics of Ripple have said for years.
This has nothing to do with bailouts or anything else. Not even sure where you got that from. This has to do with me having control over my IOU's. Why should I let a central entity have control over my IOU's? So they can halt withdrawals and leave me stuck? I could have moved into XRP, probably at some kind of loss, but still could have then moved into Bitstamp.BTC from XRP. I'd rather have that option than total loss.
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Bitcoin related businesses can never be too big to fail.
Ripple businesses can be too big to fail.
Ripple businesses can be too big to fail.
What's a Ripple business verses a Bitcoin business? That makes no sense.
A Ripple gateway is the exact same thing as an exchange, I just have control over my IOU's and you don't. In fact, you do realize Bitstamp is the largest Ripple gateway correct? How do you reconcile your statement with that truth?