If I've learned anything in the last four years...
I’m pretty firmly against the slew of bailouts being proposed or in process. It’s not that I’m insensitive to the impact of the fall of certain industries or the unemployment that follows. It’s that I don’t believe that the money, which is at some point finite, will make a difference in badly broken businesses. So why throw good money after bad? Let the bad businesses fail and use the proposed bailout money to help the displaced workers by using it to create jobs.
I had an experience today with a company in a troubled industry that reminded me how badly things can be broken… Read the rest of this entry »