The Topsy-Turvy Bailout.
Bailouts really began in this country back in 1970, when the nearly bankrupt Penn Central Rail Road appealed to the government for financial assistance.
The Rail Road argued that they provided an essential service (to use today's term), and employed a substantial number of workers. So it was in the governments interest to keep Penn Central operational.
The Federal Government, under then President Richard Nixon, bought that argument, and supplied the funds needed to keep the Penn Central running.
And over the last half century, that rationale, has been used over and over again. Often, when a major economic entity has gotten into financial trouble, and loosing that entity would cause some perceived harm to the country, the Federal Government has not been reluctant to step in and provide aid.
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The Antitrust Case Against Google.
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If there was one outstanding economic report this week it was the Retail Sales Number.
Now in thinking of these big Macro numbers, its hard to remember when the Street was this far off in …
Final: The Colonization Of America.
You are probably familiar with the great European Empires of the 15th through 18th centuries. These were the times of the dominant sea faring countries, like the French Dutch and English.
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