I think there's more it it than letting the banks and big businesses fail.
The banks got into trouble because laws were passed in the 1990's requiring them to make those risky loans. The administration thought it would spread the wealth around, but it had unintended consequences.
And remember that the reason GM got into trouble was because they had a huge liability in the form of lifetime healthcare and full pensions for union workers who had a "30 and out" contract. Whether that was the company's fault or whether their hands were tied by labor laws is a topic for another discussion.
Bottom line is that if you want the government to allow businesses to fail, it also has to let them to succeed on their own. It can't meddle sometimes and then let them suffer the consequences.
The next big bust we could see is the healthcare system. There are many politicians who would like to see all hospitals and health insurance companies in the US go bankrupt so the government can take over the entire system.
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Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
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