LoebA

Forget the Moral Outrage: Just Restore the Mortgage Markets

did hear you infer that the Chrysler bail-out was a failure? if my memory serves, the bail-out saved the company, and it averted a huge loss of capital that would have occurred in its absence. Chrysler then went on to introduce several successful lines that would not have come to market in the absence of its competition/innovation... and the government made considerable money on it to boot. there were no losers, as far as I recall. even before reading your article it had crossed my mind that there is the possibility for the government to make considerable cash from the F/F bailouts. so let's see how they are structured. as for Jimmy Carter, Ronald Reagan ran against him and excoriated him for his forecast of a $60 billion deficit. consider the deficits in the following 12 years when you measure how badly Carter failed.