Quote:
Originally Posted by Prunepicker
The government should have said, "no!" Private business isn't the business of the government.
They should have asked Fannie Mae or Freddie Mac banks for loans!  |
Prune,
That sounds like Ronald Reagan when he's speechifying but not exactly the Reagan in practice.
Were you screaming during the Reagan years about the exact same problems?
Reagan not only continued a bailout to Chrysler, he helped push through legislation to restrict Japanese imports to assure our auto companies would profit. That's not exactly laissez-faire. Even one of Reagan's biggest supporters - the CATO institute - complained about this action.
At lobbyists behest Reagan helped Lockheed survive by ordering planes considered unnecessary in the eyes of CATO.
During his term Reagan also bailed out the banks by sending $ 8.4 billion to the International Monetary Fund.
Plus many of the things we're discussing in threads above and below this one were encouraged during the Reagan years - establishment of tax havens, subcontracting to overseas call centers, protecting the multinationals at every turn. See below
The Reagan Administration and Multinationals