Sunday, February 01, 2009

The problem with Bail-outs

The political eagerness to bail out failing companies just reveals that they — like a lot of us — don't quite understand what is going wrong with our economy. It's actually a bit misleading to describe our economic woes as a crisis. If anything deserves that title, it was the asset bubble that was burst in the crash last year. All the downsizing and unemployment that we face over the next year is not the crisis, it is the correction. >> more Chris Berg

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