Who decides who deserves a bailout?
Is the current debate over whether or not to provide financial aid to the automakers a white-collar/blue-collar argument, because it’s sure looking that way when the government gives billions to help a single company like AIG and yet it won’t help companies like Chrysler, General Motors and Ford with a nearly insignificant $25 billion. Readers already know that I am against these bailouts on principle with the belief that they are prolonging the problem by smoothing the road and not fixing the problem, which ultimately means a much longer and more painful recession. My mantra remains, let companies fail, even the big ones – it will hurt more, but generally it’s for a shorter period of time The net impact on the economy will most certainly be less.
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