Paulson's Folly | Clipmarks


	Paulson's Folly

Brian Wingfield

10-31-2008 4:54 AM

678 views

tags:

bailout, pearlstein, paulson

Brian Wingfield says:

Insightful take by WashPost's Pearlstein on what's gone wrong with the bailout.

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Perhaps the worst part of this misguided effort to recapitalize the banking system is that it has prompted other industries to line up for similar sweetheart deals. Automakers, insurers, auto finance companies and local governments are already besieging the Treasury, and you can be sure that others are refining their pitch. One can only hope that the terms of future deals will be sufficiently onerous that going to the Treasury will be become a last resort, not a first instinct, for industries in trouble.
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