Government Intervention

8 Random Items for 1/26/2009 #6

If government had intervened and forced higher gas mileage standards on the car companies years ago, the current crisis would not have been nearly as devastating to the auto industry. Acting now was necessary, and kudos to the Obama administration for doing so, but ultimately, it is like closing the barn door after the horse has been stolen.

The dirty little secret about capitalism is that many industries need to be protected from themselves by the government.