Tuesday, December 23, 2008


The large corporations are always waving away government regulation and control. "Let the free market decide," is a common mantra. And yet, they are more than willing to ask the government for assistance when times get tough. Look at the banks in the US. The lack of regulation allowed them to make really bad deals, and when those turned sour, they ran to the government for help.

They have received the first half of the bailout money but there is apparently no accountability as to how they are spending it. In fact they are being downright evasive when they are questioned on the subject. Given that their greed created the current crisis, how can they be trusted to do the right thing now?

The US auto manufactures also got their bailout. These are among the most inefficient companies in the world and do not deserve a bailout. But, they employ a lot of people and that carries a lot of influence with the government. In the end, those people will be out of work anyway. The bailout is just delaying the inevitable.

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