Suppose you and a friend decided to lend a third friend some money. You gave the borrower $27 with the understanding that he would repay you 10 cents a month. Your friend gave the borrow $10 and his repayment was 40 cents a month. There is something wrong with this picture.
General Motors bondholders are more than upset with the White House's pending company reorganization because they're getting the 10 cents while the union gets the 40 cents. This is a pure political payoff. Read more about it in this post by John Hinderacker blogging at PowerLine.
I find it interesting that one of the quotes in the post includes the term "national-socialism." Many historians have noted that left-wing philosophies have traditionally had difficulty gaining traction in the United States. Are the times changing?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment