ON INDUSTRY BAIL-OUTS & COMMON WORKERS ... GETTING STIFFED

I just came across this from Robert Reich.

When it comes to risky behavior in the market, America has a double standard. We’re told that economic risk-taking is the key to entrepreneurial success, but when big entrepreneurs take big risks that fail it’s amazing how often they get bailed out.

In a few words the former Labor Secretary is telling us what many of us already know: When an industry makes stupid decisions, but is big enough that their stupidity causes fear in markets, the government will move to bail it out. But if you and I have financial problems we're on our own.

I encourage you to read the entire post on Corporate Welfare/Bail-Outs from Reich. You won't be disappointed.

- Mark