Wednesday, December 19, 2012

How green was my valley, how profitable was my bailout

I wrote a long time ago, "If you want to know how well an American automaker bailout will go, look no further than AIG." Let me merely provide this link, and you can judge the accuracy of my prediction. It wasn't hard.

"There is a strong family resemblance about misdeeds, and if you have all the details of a thousand at your finger ends, it is odd if you can't unravel the thousand and first." ("A Study in Scarlet")

Or in the case of government bailouts, when they all go badly for the taxpayer, why should the next be any different?

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