Now some people may object that governments don't do a good job running private companies. In general, I'm sure that's true, but we could hardly do a worse job than private sector's already done. If the state is going to bail out these companies, the state should be the entity that reaps the rewards, not existing shareholders.
We gave free enterprise a shot, now it's time try a different solution.
Tuesday, January 27, 2009
From the lucid keyboard of CNBC's Cliff Mason: