Here is the third (short) installment.
Again, any comments will be welcome.
All I see is this invitation to comment on a non-existent article.
There’s an attached Word doc titled “commentary-3”. Though that’s probably not what Michael intended…
In describing the necessity of a bailout for finance, the alarmists, who are not necessarily wrong, point to the job losses associated with the corporate restructurings that will follow bankruptcies. The bailout, however, will also facilitate a continuation of the destructive financial practices have also caused significant hardship to labor.
The government however is also facilitating more mergers along with the bailout and these will also result in job losses. In fact there is a kind of shock therapy going to force mergers of giant financial institutions that will produce even larger financial institutions which cannot be allowed to fail.
Yes, you are correct.
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