RANT: Bailout, Japanese style


THIRD WAY ECONOMICS: Told you so! Bailout in advance happens
Submitted by Gary Flomenhoft on Mon, 06/13/2011 – 9:41pm.

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Today the Japanese government has agreed to bail out TEPCO, the owner of the Fukushima Daichi nuclear power plant to the tune of 10 Trillion yen for compensation to victims. I’ll save you the conversion, that’s 125 billion dollars. See: TEPCO bailout

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Regardless if it’s another country or not, it’s always wrong to “bailout” any big corporation.

Just as “too big to fail is to big to exist”, “screw ups shouldn’t get absolution”. And especially not with taxpayer money!

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