Asia Bailout Sends Good Money After Bad
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James Flanigan’s column “Markets’ Judgment: Government Is Good” [Jan. 11] doesn’t tell us anything new. Unfettered free enterprise loves to have government rescue them when they have gotten their financial shorts caught in their zipper.
Why are we shipping money to Asia’s toothless tigers? So they can pay back the reckless loans our fiercely independent and self-reliant financiers have lent them.
Our government is good at this. We did the same thing in Mexico and shouldered the granddaddy of all bailouts, the savings and loan debacle.
We have created something new--socialized free enterprise. Heads, business wins; tails, the taxpayer loses.
C.M. DEASY
San Luis Obispo
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