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Let’s think back to the bailout of GM. “We” bailed them out because, it is claimed, their failure would cause a cascade of economic horrors. So, even though many people “believed” (i.e. SAY they believed) it would be good economics to let businesses make it on their own or fail, in times of crisis, the rules are different and we had an obligation to the American people to bail them out.

OK. Fine.

How big was GM and how many people did it employ?

How do you think people would have responded had the struggling company been, say, Walmart?

Or better yet, how do you think people would have responded had the struggling company been, say, Koch Industries?

Each of those employs vastly more people I would imagine than does GM and each of them is vastly “more important” to our everyday lives than GM.

It’s not my intention here to say that this sentiment is wrong, my only goal here is to just make sure it’s out in the open and well understood. A little honesty is a good thing. I don’t expect, at all, anyone’s views to change, or policy to get any better. I just hate living in a Potemkin world and these are my tiny little efforts to tear down the facades.

One Response to “Sunday Morning Ponderance”

  1. jb says:

    Great point WC, as usual. Or better yet, let’s create a contingent subsidy to support Exxon Mobil, Haliburton, etc. just in case oil prices continue to fall to a point that might prompt them to layoff people. It’s smart to plan ahead of time, right?

Leave a Reply to jb