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Recent Comments

Re: “Who was rescued by taxpayers' Yarnell bailouts?

Independent, you can forget about AT getting off Huckabee. Remember the story they ran about Huckabee saving a guy with the Heimlich maneuver? And managed to find some fault there?…

Huckabee is far from perfect, but AT's attacks have gone beyond the ridiculous. If the guy came up with a cure for cancer, they would find fault. Obsession is the proper diagnosis.

Posted by Arkwriter on 07/03/2011 at 3:50 PM

Re: “Who was rescued by taxpayers' Yarnell bailouts?

Sound Policy, so who decides what businesses should fail and which should be bailed out by the taxpayers? There's the rub, and there will always be a political component. So far as Chrysler's supposed "success" you must remember the taxpayers bailed it out in 1980 or so. And there it was back to the trough. There's a school of thought that had Chrysler been allowed to fail, the incestuous relationship between big three Detroit auto maker management and the UAW would have been ended, such that management would not have basically given the auto makers to the UAW. Also, in the current Chrysler bailout, the bankruptcy laws were eviscerated to effect that senior bond holders were rendered subordinate to junior creditors, i. e. the politically favored UAW (the contention being the bond holders got less than under a liquidation, contrary to bankruptcy law). The effect of that going forward on the rule of law is unknown, but I for one would never buy a bond issued by GM or Chrysler. So far as the economic effect had they been allowed to fail, history does not reveal its alternatives, but it is hard to argue that having allowed Chrysler to fail in 1980 would have been a negative in light of developments.

Posted by Arkwriter on 07/02/2011 at 10:19 PM

Re: “Who was rescued by taxpayers' Yarnell bailouts?

Sound Policy, so, if Yarnell's had employed the same number of people as GM and Chrysler, it would be OK to have bailed them out by a factor of 10,000X? Understand there is some difference in transparency in the process at this point, although doubtless that will be remedied. The effect is more important than the process.

Posted by Arkwriter on 07/02/2011 at 12:46 PM

Re: “Who was rescued by taxpayers' Yarnell bailouts?

Exact same thing was done to bail out GM and Chrysler, except by an order of magnitude greater in the range of 10,000. Don't remember the Ark. Times criticizing that. Which is not to be agreeing with the Yarnall bail out, but just pointing out the hypocrisy, depending on who was doing the bailing.

Posted by Arkwriter on 07/02/2011 at 11:27 AM


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