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  • Government's Best Move in 2008? Letting Lehman Fail [View article]
    The real mistake was TARP and all the gyrations that siphon trillions of taxpayers' funds to prop up failed financial companies.

    Any bank that put itself in a position to fail should have been nationalized before taxpayers' money was put into it. The management should have been replaced by the government receiver, and once stability has been restored the nationalized banks would have been sold, recovering some of the taxpayers' money.

    This is the model that was employed by several major European countries, whether it be banks, mines, or other strategic industries. It preserves the system for the greater good without rewarding the irresponsible.
    Dec 31 08:34 am |Rating: +3 -1
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