It's Friday and Lehman Brothers can't find a buyer
From America Blog
Friday, September 12, 2008
So will the Fed bailout Lehman as well? Just because they couldn't find a buyer after of trying is not our problem. Let them go under and let Detroit figure out how to get money like every other business in America. We can not afford to keep bailing these companies out and taking on the extra financial burden. There are simply too many potential incoming bailouts and at the moment, Wall Street, Detroit and likely others (airline industry, probably) all see this as an easy way out of management incompetence. How many CEOs have we heard talking about cutting back if they receive federal money? None. We are going to have to draw a line sometime soon and maybe it should have already been drawn.
Friday, September 12, 2008
So will the Fed bailout Lehman as well? Just because they couldn't find a buyer after of trying is not our problem. Let them go under and let Detroit figure out how to get money like every other business in America. We can not afford to keep bailing these companies out and taking on the extra financial burden. There are simply too many potential incoming bailouts and at the moment, Wall Street, Detroit and likely others (airline industry, probably) all see this as an easy way out of management incompetence. How many CEOs have we heard talking about cutting back if they receive federal money? None. We are going to have to draw a line sometime soon and maybe it should have already been drawn.