These are the ramblings of a young married couple in the great City of Chicago.

Archive for the 'Bailout' Tag


Bankruptcy is the greater good

Wednesday, 10 December 2008 Jacob Tomaw

Walter E. Williams provides so basic economics on why we should not bailout the auto industry. The whole, short article is worth reading, but I wish this paragraph could be read to every congressman.

What happens when a company goes bankrupt? One thing that does not happen is their productive assets go poof and disappear into thin air. In other words, if GM goes bankrupt, the assembly lines, robots, buildings and other tools don’t evaporate. What bankruptcy means is the title to those assets change. People who think they can manage those assets better purchase them.

This is completely ignored by the media, as far as I can tell.

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Posted in Economics | No Comments »

Real Toxic Waste

Monday, 22 September 2008 Jacob Tomaw

There has been a lot of talk about Toxic Debt and pols seem to have aligned to do something about it.

This got me thinking about Yucca Mountain and how pols don’t want to do anything about real toxic waste. You know, the nuclear waste managed by the Department of Energy. That is under loose security all over the country and can be used to make dirty bombs.

Maybe we should bundle it up and sell it to sovereign welt funds just like sub-prime mortgages. Wait, that might be the exact opposite of what we want to do.

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Posted in Government | No Comments »