Posts Tagged ‘about-face’

Biiiiig Surprise!!!

December 20, 2008

by Sandy Ikeda

In another about-face, the Bush administration says Congress needs to free up the second half of the $700 billion federal bailout. And now that automakers are getting a share, the floodgates are almost certain to open for other nonfinancial industries that want government help.

You can read the rest of the story here.

The insurance industry and state and local governments are said to be next, and we haven’t heard the last from the housing industry.  How much longer does this line have to grow before it strangles the economy?