Willem Buiter writes an eminently rational and well argued piece on why bailouts are not a good thing, especially bailouts of carmakers.
The article is well worth reading in full.
I enjoy reading Mr Buiter’s pieces. He is often provocative and nearly always worth reading.
Subsequently I saw another commentator suggest the ultimate bailout could cost US$175 billion with no guarantee of success.
Yet no doubt the ‘Big 3’ will be saved.
‘Good’ governance in action or caving into pressure ?