As taxpayers, we obviously can’t rely on lawmakers to address the risks we face from the ever-expanding corporate safety net thrown under teetering behemoths. But because we are footing the bills for these rescues — and will do so again if more crises occur — don’t you agree that we should know what these implied federal guarantees will cost us?
If the government won’t reduce the size of the safety net, and it has shown no appetite for doing so, it should at least tell us the price tag.
1 comment:
The first line of the second paragraph of this article points to a major issue of the government stepping in when there appears to be a market failure. The article calls the companies that have received bailouts as the too-influental-to-fail gang. Government decisions are never done purely on what is best for the society. Most times some group or industry has a influence on these decisions. This has led the government to help powerful companies and not tell tax payers what it is all costing. All this is done in the hopes of getting reelected. Taxpayers need to organize and question the government, as Ricky has implied. The government may be doing too much to keep these companies afloat and needs to let the market do more.
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