12/11/2008 9:31:17 am
After Bailout: Pull Out! Yesterday, I presented the English version of the publication on the financial crisis by me and Nima Sanandaji, published by the European Enterprise Institute. Now there are discussions about continued bail-outs of various other industries - such as the car industry. It is the wrong way to go; the financial system needed government efforts, but governments should be dedicated to pulling out again. And governments cannot save all their old companies and jobs. It would prevent the new, hinder trade and cost tax-payers huge amounts. Here is the EEI publication (pdf).