It turns out all those 2008/2009 bailouts may not have been such a bad thing. There were quite a lot of them, and they had many Americans understandably concerned. It was, after all, their tax money going to prop up companies that were failing, and many felt (still do) that they should be allowed to fail. The arguments for and against the bailouts were relatively straight forward. Opposition was centered around the ideas that A) government bailouts amount to government takeovers. A socialist concept anathema to our free market self image; and B) any business should be left to face the consequences of its own decisions, not rescued at everyone else‘s expense. Support was built upon the notion that the economy was facing no ordinary downturn and that so many large companies failing simultaneously would plunge an already contracting economy into the 2nd Great Depression.
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