Letters to the Editor
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androcass
Published Letters: 1
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Non-Bear Stearns Issue
[Read the article: Bernanke: Markets could have become "chaotic"]
[Read more letters about this article: Here]The Chairman says, "Normally, the market sorts out which companies survive and which fail, and that is as it should be."
Of course, this is nonsense. We see example after example of government structures, laws, and institutions being used to "help" companies survive. Take United Airlines...please. Chapter 11 allowed them to stiff shareholders, offload their pensions, and emerge a financially secure (if no better operationally) than before.
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