The price of bailout
My position on the bear-streans bailout was, and still is, that it was simple case of robbery. Having the taxpayers fund, directly and indirectly, welfare programs for banks, airlines companies, pharmaceutical companies or any other corporation doesn’t change the fact that this is improper use of the public trust. The only support a company should seek is the support of trusting investors and satisfied customers.
And the results of corporate welfare and bailout policies aren’t improve economics but rather:
In a world where people who make bad decisions are spared the full consequences, only one thing is certain. We’ve encouraged more people to make more bad decisions in the future. The real price to be paid
isn’t the dollar costs of any bail out, but the encouragement of recklessness and irresponsibility. That will make all of us poorer down the road.
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