Should the Federal Government Bail Out Private Industry?

by David M. Haugen (Editor)

Overview

Should the auto industry or large banks be rescued when they engage in practices that lead them into bankruptcy? Will the collapse of one sector lead to the collapse of others? If the government can spend billions bailing out banks or auto companies, why don't they do the same for the millions of college students or homeowners who suffer from debt as a result of the financial sector's predatory practices? This anthology analyzes these and other questions relevant to federal bailouts. Readers will gain a broad understanding of the conflicting sides of this debate in accessible essays. Writers include Nancy Rapport, Paul Krugman, and Matthew Rothschild.

Product Details

ISBN-13:	9780737746570
Publisher:	Greenhaven Publishing LLC
Publication date:	12/19/2009
Series:	At Issue Series: Economy
Pages:	120
Product dimensions:	6.10(w) x 9.00(h) x 0.50(d)
Age Range:	14 - 17 Years

Table of Contents

Introduction 7

1 The Government Bank Bailout Plan Is Necessary Richard Gibbons 12

2 The Government Bank Bailout Plan Is a Fraud Chuck Baldwin 17

3 The Government Bank Bailout Plan Subsidizes Swindlers James Petras 22

4 Bailout Money Should Not Be Used to Pay Executive Bonuses Nomi Prins 27

5 Bailed-out Banks Should Pay Promised Bonuses to Their Executives Terence Corcoran 32

6 The Government Bank Bailout Will Not Jump Start the American Economy Doug Page 37

7 The Government Should Not Bail Out Failing Homeowners Declan McCullagh 47

8 The Bank Bailout Neglects Responsible Homeowners Nancy Rapoport 51

9 The Government Should Nationalize Banks Matthew Rothschild 56

10 The Government Should Temporarily Nationalize Banks Paul Krugman 62

11 The Government Should Not Nationalize Banks Rick Newman 66

12 The Government Should Not Bail Out the Auto Industry Jon Christian Ryter 71

13 The Government Should Bail Out the Auto Industry Brett Hoven Katie Quarles Tony Wilsdon 78

14 The Government Should Not Bail Out Deceptive Student Loan Lenders Stephen Burd 86

15 The Government Should Cancel Student Loan Debt Robert Applebaum 92

Organizations to Contact 98

Bibliography 103

Index 108

Editorial Reviews

Review: Should the Federal Government Bail Out Private Industry? "This concise, timely work effectively introduces the Trouble Asset Relief Program, the collapse of the subprime mortgage industry, and the highly charged issue of governmental economic regulation. The brief, well-informed opinion pieces are persuasive in argument and economic in language, and each is preceded by a short introduction. A commendable introduction to a complex and highly relevant topic."—School Library Journal, June 2010

From the Publisher