So Much for a Free Market Economy

The U.S. government’s latest bailout – $85 billion for AIG – simply reinforces bad (catastrophic) corporate behavior and certainly won’t solve any systemic issues with the way these companies do business. By throwing good (taxpayer) money after bad, the feds are effectively telling corporate leaders that it’s OK to mess up on a monumental scale, and that if your lobby is powerful enough then Uncle Sam will take care of you. For the good of the country, of course.

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4 thoughts on “So Much for a Free Market Economy”

  1. tsk, tsk Rob. Socialism is a very bad thing. Unless you owe a LOT of money. BTW, did you hear that Congress is going to loan the US car companies $50B to help them make small fuel-efficient cars? It will pass even though the righties and the lefties think it’s a horrible idea because Michigan is a battleground state. Can I get declared a battleground state?

  2. Here’s my plan to wealth and riches:
    1) Hire some great lobbyists
    2) Get your industry de-regulated
    3) Come up with a wacky product and sell the crap out of it
    4) Make a huge bonus
    5) When the company is failing get a bailout
    6) Float to your retirement with your golden parachute

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