Wednesday, December 3, 2008

The Bailout Bull, Cont.

Why all the effort to prop up failed financial institutions? The whole sector might have been an elaborate Ponzi scheme. There seems to be a lively debate about letting the auto industry work its problems out in bankruptcy. Why not the same for the financial sector?

Will Wilkinson, a research fellow at the Cato Institute, thinks that the government should stop "trying to prop up already failed financial giants. We'll best ensure continued investment in our still-vital economy if we let new financial players rise from Wall Street's ruins." Read or listen to his opinion.

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