In watching today’s news I find it interesting that the push to eliminate bailouts is the main reason for expanding the government controls over the financial industry and at the same time trumpeting the success of the GM bailout. Am I to believe that if the proposed regulations had been in effect there would have been no GM bailout? There was a congressman from Michigan explaining how the jobs associated with GM number in the millions and all those would have been lost without the bailout.
Regardless of what kind of legislation they pass the next time there is a crisis will the subject of bailout come up? We will see.
Jack/John
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