If we're going to do bailouts, we had better make sure the same misbehaviors can't happen again.
We've been bailing out too-big-to(should)-fail, crony corporations ever since Chrysler in 1979. And they die slow deaths regardless of how many taxpayer dollars line their executives' "golden parachutes". Let the strongest survive and the weakest find new careers. That's how you get "management changes".
[Hoover] believed that there was absolutely nothing government could do to save the economy, and that letting the beginnings of the Great Depression go unchecked was the least evil action. He was wrong.
We've been bailing out too-big-to(should)-fail, crony corporations ever since Chrysler in 1979. And they die slow deaths regardless of how many taxpayer dollars line their executives' "golden parachutes". Let the strongest survive and the weakest find new careers. That's how you get "management changes".
[Hoover] believed that there was absolutely nothing government could do to save the economy, and that letting the beginnings of the Great Depression go unchecked was the least evil action. He was wrong.
Well, if he believed that, he had a funny way of showing it. Maybe he didn't intervene as much as FDR, but he was a lot closer to FDR than Coolidge: http://www.eurekalert.org/pub_releases/2009-08/uoc--hps08190...