Mergers & Bailouts in American History
As some of you know, I am very interested in the various occupy movements that, until recently, were going on all over the country. (Occupy Boston remains in place, as does, by the way, Occupy Harvard.) I sympathize with the general feeling of frustration, and I think it's worth trying to figure out how to express some of those sentiments in a more rigorous way.
Elizabeth Warren, who is currently running for Senate in Massachusetts, must be one of the smartest people in politics. I recently watched a clip of an interview she did with Charlie Rose in which she makes a very compelling argument that's worth thinking about in historical perspective.
Warren basically says that although she agrees the 2008/09 bailout of several large banks, AIG, as well as GM and Chrysler were necessary, it was not executed the right way. The question she poses is this: was the bailout designed to preserve particular institutions, or to preserve the US Economy? "What we did when we rescued these…
Elizabeth Warren, who is currently running for Senate in Massachusetts, must be one of the smartest people in politics. I recently watched a clip of an interview she did with Charlie Rose in which she makes a very compelling argument that's worth thinking about in historical perspective.
Warren basically says that although she agrees the 2008/09 bailout of several large banks, AIG, as well as GM and Chrysler were necessary, it was not executed the right way. The question she poses is this: was the bailout designed to preserve particular institutions, or to preserve the US Economy? "What we did when we rescued these…