Could the Massachusetts Miracle mean the end of TARP?
[Update a while later]
The good news was short lived. The amendment failed, only getting fifty-three votes, when it needed sixty. It will keep it festering as a campaign issue, though.
5 thoughts on “More Good News”
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Hey! Thune “gets it”. Too bad Obama, Reid and Pelosi never will.
Sinking government money into failing corporations seldom works. It generates nice warm fuzzy feelings about “saving” jobs in the short term. However in the long term the cash will run out and the corporation will go bankrupt anyway.
However I suspect without some form of government support the auto industry will not survive. Everyone else does it. Japan, France, Germany, etc. The United Kingdom did not do it and motor companies either went bankrupt or were bought out. Lotus is owned by some Malaysian carmaker. Rolls-Royce by BMW.
PS: For non-productive enterprises like financial institutions I would be less generous.
For non-productive enterprises like financial institutions
That is a statement displaying monumental historic and economic ignorance. There would have been no industrial revolution absent financial institutions.
PS: For non-productive enterprises like financial institutions I would be less generous.
How about for productive financial institutions?