Tuesday, 9 December 2008

Shriek! Don't say the word!

"But what Mr. Obama went on to describe was a long-term bailout that would be conditioned on federal oversight. It could mean that the government would mandate, or at least heavily influence, what kind of cars companies make, what mileage and environmental standards they must meet and what large investments they are permitted to make — to recreate an industry that Mr. Obama said “actually works, that actually functions.”

It all sounds perilously close to a word that no one in Mr. Obama’s camp wants to be caught uttering: nationalization."

NY Times: Washington Takes Risks With Its Auto Bailout Plans, 8. Dezember 2008
NY Times: Deal to Rescue American Automakers Is Moving Ahead, 8. Dezember 2008
Wall Street Journal: U.S. Could Take Stakes in Big 3, 9. Dezember 2008
Washington Post: New Auto Rescue Plan Focuses on Oversight, 8. Dezember 2008

And I think the Austrian plan for helping the banks is nearly approved by the EU commissioner. I had a lot of fun yesterday night while watching the weird 10 minutes-for-people-with-almost-no-attention-span news on ORF1: they said something like "one thing is clear: this is going to help Austrian companies to finally get the loans they need". Oh really?

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