Thursday, January 8, 2009

Bailing on Bailouts

Really, enough is enough. The financial sector and the auto industry? Understandable. $700 billion with no strings attached was obscene, but there was no doubt these industries were key enough to the economy that they needed some help weathering the storm. But retailers? The porn industry? I know as a yet-unaffected college student I don't fully grasp the impact of this economic crisis, but let's be real: we're in a recession, a bad one. And in a recession, business recedes. Sad, but true. Trying to make it otherwise with these endless bailout requests is only going to put our government deeper in the hole and worsen our problems later on. What we're looking at here is death by a thousand self-inflicted paper-cuts.

Some economic belt-tightening will anyways be instructive in how many of these companies should have been acting in the first place.

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