Thursday, September 25, 2008

Bailing 'em out again

So, on the radio this morning, they were interviewing the former CEO of General Electric, who said, oh don't worry about it, this has happened before: the Japanese recession of '95, the recession of '90, and the recession of '87. The government introduced liquidity and our bacon was saved.

So, asks Hans, you mean the taxpayers have bailed out these boondoggles before? When are people going to notice that the system doesn't work very well if you have to bail out the big guys every so often?

No wonder people are mad. The little guys get to pay for the big guys' mistakes over and over, and the government keeps allowing the same sorts of stupid behavior on the part of large corporations and networks within different industries.

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