Bailouts For Anything Deemed Important

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I knew I should have gone into anything related to the auto industry!

The Treasury’s guidelines, published yesterday, would let officials provide funds to any company they deem important to making or financing cars. That leaves room for the government to provide money from the Troubled Asset Relief Program beyond loans already committed to General Motors Corp., GMAC LLC and Chrysler LLC.

Who would have guessed that interventions lead to more interventions?

1:54 pm on January 1, 2009