Thursday, November 13, 2008

If bail out we must ...- National Post

In principle, we're against government bailouts of corporations, even (or perhaps especially) in industries as large as the auto sector. Bailouts anesthetize executives and investors against the painful lessons the market inflicts on mistake-makers to teach them -- and everyone else -- not to repeat their errors. Bailouts increase the chance of future mistakes by removing accountability from those making wrongheaded commercial decisions and giving a false sense of security to all market players that every failure will be ameliorated by the public treasury.

No comments:

U.S. National Debt Clock