Carmakers:The case for not intervening

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 ?

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