Tuesday, November 18, 2008

Bailout like a bad rerun from 1970s

by Ben Cunningham, The Tennessean, November 12, 2008

Fool me twice, shame on me. In 1979, U.S. taxpayers saved Chrysler management from many years of stunningly bad judgment. (link)


This is a very good article by Ben Cunningham that was published in the Tennessean last Wednesday. Ben is a citizen activist who was the leader a couple years ago of the movement that stopped Tennessee from adopting a state income tax. I belong to an informal organization along with Ben called Right of Center Bloggers. From time to time the group meets to hear from guest speakers and to share ideas. Ben's blog is Taxing Tennessee.

In this insightful article, Ben argues that we should not prop up mediocrity by bailing out the auto industry. Obviously, I agree.

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1 comment:

  1. Sitting further to the left and I suspect you do, I suspect we may not agree on a lot of topics, but I do always enjoy coming to get your perspective.

    I have mixed feelings about the proposed bailout of the big three. I do believe that these are drastic times which call for drastic measures. However, I'm not sure that a Chapter 11 reorganization of any of the major car makers, or a large loan to any of them are really good ideas.

    Instead, I think we need to look at the underlying issues and how we can address some of them

    I've written more on this at my blog, Orient Lodge.

    My Socialist Plan for the Auto Industry.

    I would love to hear your thoughts.