[...] None of this suggests that we should be unhappy with the recent success of General Motors and Chrysler. Their revival is a very encouraging development. But to claim that the car companies would have collapsed if the government hadn't intervened in the way it did, and to suggest that the intervention came at very little cost, is a dangerous misreading of our recent history.Full article...
Hidden Cost of Bailouts
David Skeel, in The Wall Street Journal:
For all your rowdy friends:
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"A fool takes no pleasure in understanding, but only in expressing his opinion." — Proverbs 18:2