And what about the precedent the government would set? If we bail out
Detroit, where do we stop? The newspaper industry is in financial trouble
because more readers and advertisers are turning to the Internet. Newspapers are
good for democracy -- Thomas Jefferson said he would choose newspapers over
government, after all -- so shouldn't they get low-interest government loans to
help them adjust to the Internet? Of course not, and ditto for Detroit.
Bear Stearns? Check.
Fannie Mae and Freddie Mac? Check.
You know what? I pay taxes. You pay taxes. We'll end up paying for all of these bailouts via our taxes.
So where's our check?