September 26, 2008
The bail-out may not be crazy
To quote martyrstwotunas, this is the “first thoughtful article I’ve read concerning the bail-out:”
Spending a sum of money that could buy you a war in Iraq should not come easily; and the notion of any bail-out is deeply troubling to any self-respecting capitalist. Against that stand two overriding arguments. First this is a plan that could work (see article). And, second, the potential costs of producing nothing, or too little too slowly, include a financial collapse and a deep recession spilling across the world: those far outweigh any plausible estimate of the bail-out’s cost.
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[...] Andrew Simone wrote an interesting post today onHere’s a quick excerptTo quote martyrstwotunas, this is the “first thoughtful article I’ve read concerning the “bail-out:”. Spending a sum of money that could buy you a war in Iraq should not come easily; and the notion of any bail-out is deeply troubling to b…/b [...]
Yeah, this is why we have government: to step in and do the big, crazy projects that aren’t in anyone’s individual interest, yet are essential to our collective survival. I have no problem with this so long as it isn’t a massive wealth transfer from the taxpayers to these companies’ shareholders and boards.
Ditto.
[...] the bail-out may be neccesary that doesn’t mean it isn’t effectively putting money into “companies’ [...]