The federal government is expanding its bailout of AIG to $150 billion, well above its originally-predicted cost, and planning to bail out other insurers, too. Congressional leaders also plan to bail out out the automakers yet again. Professor Bainbridge and the Wall Street Journal explain why this is a bad idea. Many of the bailouts over the past year are likely to have unanticipated negative side effects of many kinds, in addition to exploding the national debt. Here is a list of things the government could do to promote an economic recovery.
Bailouts Mushroom, Impoverishing Taxpayers
Previous post: Nation of Islam’s Farrakhan: Obama Is “God-Given Leader”
Next post: Bailout on Wheels Rolls Down Slippery Slope
RSS Updates 
RSS E-Mail Updates 
Twitter 
Facebook 
CEI.org 
WorkPlaceChoice.org 
GlobalWarming.org 
CEI On Demand Video 
Liberty Week Podcast 
{ 3 comments }
The Opposition Response: http://conservablogs.com/publiusforum/2008/11/1…..In short, every bailout whether it be for banks, insurance companies, auto companies or home owners directly is siphoning off investment capital used for expansion of the economy. This why FDR's feel good programs while popular because it was cast as doing something, were self defeating and lengthened the Great Depression. Only private enterprise creates wealth, government can only redistribute it!
1. Why do banks get away with being referred to as "financial institutions" rather than "companies" or "corporations"?2. Where do I find information on the CEI's take on the FDIC?Thanks!
has anyone else seen that AIG Companies is Shariah Finance Compliant through their offshore subsidiary AIG Takaful?
Comments on this entry are closed.
{ 3 trackbacks }