Quote:
Originally Posted by Resolute 14
Actually, there were bailouts in Canada too. Just not in the banking sector. The federal and Ontario provincial governments pledged $4 billion in loans to GM and Chrysler. And protesting that, in retrospect, would have been a mistake, as not only were the loans repaid six years early, but the government got a commitment by Chrysler to guarantee 20% of its production will happen in Canada. We turned a profit, and we got guaranteed jobs out of the deal.
Which, when you get down to it, kind of flies in the face of the arguments OccupyWherever is theoretically making. Government was able to improve the lot of both big business and the little guy. |
That's a great point. The same could be said for the bailout of many of the US automakers.