Watch Your Head It’s Getting Crowdered In Here
on 07/29/2011 at 10:06 AM
I opposed the original Chrysler bailout under Lee Iacocca. I think Reagan did that. Reagan also did the Harley-Davidson bailout. I opposed that. See? Reagan did misstep at home. But he and Thatcher and John Paul II were busy bringing down the current evil, the USSR. I was also against the bailout of NYC in the mid-70s. Even as a sixteen-year-old I knew that taxing the rest of us to pay NYC unions was NOT a good deal.
No government bailouts should be a given. Free trade, etc. There is no such thing a a company ‘too big to fail’. If it really is too big to fail, then by definition, it won’t. Supporting failed/outdated industries hurts all of us.
