The Great Bailouts of 2008, Herbert Hoover, and the New Telephone Pole-Sized Straws (plural) Fat Atop the Camel’s Back
Friday, September 19th, 2008Bailing anybody out is generally a bad idea. It creates a feeling in the ‘bailed’ that he/she can get away from whatever he/she did wrong to get him in the jam he/she found him/herself in the first place. Unless things have changed since my college days when I learned this, criminal offenders are repeat offenders not just some of the time, but MOST of the time.
But I’m not saying that a newly-bailed-out goliath insurance company has been run and essentially mismanaged by shady characters. Not in this post, anyway. (more…)