sc94597 said:
Eh, the only recent example I can think of is creating the New GM (and owning large shares in it for like three years), and that probably was the right decision on net (which is why the Canadian and American governments did it jointly.) It saved jobs, pensions, and the U.S government barely took a loss (far less than the social costs would've been to let Old GM go without a replacement.)Â |
My primary contention with the GM deal wasn't that we bailed them out, it was that we didn't extract much out of the deal beyond the inherent benefits of strong businesses. I think it makes sense in certain circumstances to support businesses in this manner but unless there is revenue generation (which, like you said, that deal seemed to be a net loss in terms of revenue), we should really be able to extract more concessions from these companies.
