I’m not much for political or economic discussions normally but it’s everywhere so I figured today would be a good day for a skeptical take on what’s going on in the political arena.
The government bailout proposal has caused huge controversy in the past few days. The CEO of BB&T sent a letter to the government saying, amongst other things, that it was wrong to bailout institutions that made poor decisions.
“There were a number of poorly managed institutions and poorly made financial decisions during the real estate boom,” Allison wrote. “It is important that any rules post-`rescue’ punish the poorly run institutions and not punish the well-run companies.”
So, I ask you, skeptical readers:
Is the government bailout of our failing financial institutions a good or bad idea? Please support your opinion with solid, skeptical reasoning.
I’ll probably have minimal participation on this one – it’s definitely not my area of expertise. I’m going to use this as a learning experience :)
P.S. Thanks to Krelnik for suggesting this question!